UK's FTSE 100 flat as Middle East uncertainty persists; inflation rises
22/04/2026 11:51
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window April 22 (Reuters) - London's benchmark index FTSE 100 was subdued on Wednesday as investors monitored the fragile truce in the Middle East and assessed Britain's March inflation data. The blue-chip FTSE 100 index .FTSE edged down 0.03% to 10,495.22 points by 1048 GMT, while the midcap FTSE 250 .FTMC edged up 0.2%. Lingering doubts over peace in the Middle East weighed on sentiment, despite U.S. President Donald Trump extending the ceasefire with Iran , with uncertainty persisting over whether Iran or Israel would uphold the deal. Oil prices jumped on Wednesday, with Brent crude rising above $100 a barrel, following reports that at least three container ships were hit by gunfire in the Strait of Hormuz. The rise in crude prices weighed on airline stocks with British Airways owner IAG ICAG.L down 2.1%, EasyJet EZJ.L dipping 1.6% and Wizz Air WIZZ.L losing 1.3%, respectively. Oil majors BP BP.L and Shell SHEL.L rose 1.9% and 0.8%, respectively. Miners Fresnillo FRES.L, Rio Tinto RIO.L, Glencore GLEN.L and Anglo American gained more than 1%, tracking a rise in prices of precious and base metals. Official data showed British consumer price inflation rose to 3.3% in March from 3% in February, underscoring the Iran war's impact on price levels. "The CPI figures confirm that the supply chain and energy pressures are beginning to bite and the Bank of England's room for manoeuvre is narrowing fast," said Nick Saunders, CEO of Webull UK in a note. Reckitt RKT.L, which makes Dettol soap and Durex condoms, missed quarterly like-for-like revenue estimates, pushing shares down 6.2%. Business supplies distributor Bunzl BNZL.L gained 3% after posting a rise in first-quarter revenue. Stocks of wealth-managing firms gained after Quilter QLT.L reported record first-quarter inflows: Quilter rose 4.9%, Liontrust Asset Management LIO.L was up 0.7%, and Aberdeen ABDN.L advanced 0.4%. (Reporting by Utkarsh Tushar Hathi; Editing by Diti Pujara) ((utkarshtushar.hathi@thomsonreuters.com))