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LONDON MARKET CLOSE: Oil price plummets as Iran declares Hormuz open
- FTSE 100 closed up 77.64 points (0.7%) at 10,667.63, driven by Iran declaring the Strait of Hormuz open, reducing oil prices.
- FTSE 250 rose 426.42 points (1.9%) to 23,205.92, and AIM All-Share gained 12.25 points (1.5%) to 810.11.
- Weekly gains: FTSE 100 +0.6%, FTSE 250 +3.8%, AIM All-Share +3.9%.
- Iran's Foreign Minister Abbas Araghchi announced open passage for commercial vessels through the Strait of Hormuz during the ceasefire.
- US President Donald Trump signaled progress on an Iran peace deal, including agreements on the Strait of Hormuz and nuclear program.
- Oil prices plunged, with Brent trading at USD89.15 per barrel, down from USD98.39.
- European markets rallied: CAC 40 +2.0%, DAX 40 +2.3%.
- UK and France to lead a multinational mission to ensure navigation freedom in the Strait of Hormuz.
- US markets higher: Dow Jones +1.9%, S&P 500 +1.2%, Nasdaq +1.6%.
- Netflix shares fell 9.7% due to weak second-quarter guidance.
- US Treasury yields dipped: 10-year to 4.24%, 30-year to 4.88%.
- UK 10-year gilt yield fell to 4.68%, still above pre-Iran war levels.
- Pound strengthened to USD1.3556; euro rose to USD1.1805.
- Energy stocks declined: BP -7.4%, Shell -5.6%, SSE -6.6%, Centrica -5.0%.
- Travel and aerospace stocks surged: IAG +6.2%, easyJet +6.1%, Wizz Air +7.6%, Rolls-Royce +4.8%, Melrose +4.9%, InterContinental Hotels +5.3%.
- Workspace Group dropped 6.2% after warning of a "substantial step down" in trading profit.
- Gold rose to USD4,869.13 per ounce, boosting Fresnillo shares by 6.2%.
- Top FTSE 100 risers: Fresnillo, IAG, InterContinental Hotels, Antofagasta, Melrose Industries.
- Top FTSE 100 fallers: BP, SSE, Shell, Centrica, Glencore.
- Upcoming: China interest rate decision, Canadian CPI, German PPI, M&C Saatchi results, Kainos Group trading statement.
LONDON MARKET MIDDAY: Listless trade in London but European peers rise
- London stock prices mixed at midday on Friday, with investors awaiting Middle East news.
- European markets lag behind US counterparts; S&P 500 hit a record high on Thursday.
- AJ Bell analyst Russ Mould noted market resilience despite Middle East tensions, with S&P 500 up USD1.5 trillion since Iran war began.
- FTSE 100 down 0.2%, FTSE 250 down 0.1%, AIM all-share up 0.4%.
- 10-day ceasefire between Israel and Lebanon in effect; Trump claims war with Iran "should be ending soon."
- French President Macron expressed concern over ceasefire's durability, calling for civilian safety and Hezbollah disarmament.
- UK PM Keir Starmer to chair summit on reopening Strait of Hormuz, excluding US.
- Pound down against USD and EUR; Brent oil and gold prices declined.
- Intertek rose 3.6% after rejecting EQT's cash proposal; utilities SSE and Centrica fell due to energy supply concerns.
- Workspace shares plummeted 13% on profit warning; Optima Health up 4.9% on strong earnings forecast.
- Netflix stock down 9.8% pre-market on weak sales forecast and co-founder Reed Hastings' departure.
LONDON BROKER RATINGS: Exane BNP raises BP and cuts Shell
- 17th Apr 2026 09:15
- Kepler Cheuvreux raises Reckitt Benckiser to 'buy' (hold)
- Morgan Stanley raises BAE Systems price target to 2,662 (2,342) pence - 'overweight'
- Exane BNP raises BP to 'outperform' (neutral)
- Exane BNP cuts Shell to 'neutral' (outperform)
- Citigroup raises Standard Life price target to 840 (769) pence - 'buy'
- Barclays raises Intertek price target to 5,902 (5,630) pence - 'overweight'
- Bernstein raises Tesco price target to 520 (490) pence - 'outperform'
- JPMorgan raises Tesco price target to 500 (480) pence - 'overweight'
- BofA cuts Rightmove price target to 430 (460) pence - 'underperform'
- BofA raises Pearson price target to 1,100 (1,040) pence - 'neutral'
- BofA cuts Autotrader Group price target to 545 (590) pence - 'neutral'
- BofA cuts Informa price target to 1,040 (1,070) pence - 'buy'
- Goldman Sachs raises Mitie price target to 240 (235) pence - 'buy'
- Deutsche Bank raises Mitie price target to 195 (190) pence - 'buy'
- Berenberg cuts Dunelm price target to 1,350 (1,425) pence - 'buy'
- Jefferies cuts Dunelm price target to 1,041 (1,075) pence - 'buy'
- Investec cuts Taylor Wimpey to 'hold' (buy) - price target 81 (111) pence
- Deutsche Bank cuts Ashmore Group price target to 145 (150) pence - 'sell'
- RBC cuts easyJet price target to 415 (440) pence - 'outperform'
- JPMorgan cuts easyJet price target to 340 (350) pence - 'underweight'
- RBC cuts Hays price target to 60 (65) pence - 'outperform'
- Citigroup raises AJ Bell price target to 500 (445) pence - 'sell'
- BofA cuts Baltic Classifieds price target to 240 (245) pence - 'buy'
- JPMorgan raises Wise price target to 1,260 (1,225) pence - 'overweight'
LONDON MARKET OPEN: FTSE dips as investors weigh Trump's Iran comments
- London stock prices opened slightly lower on Friday, with FTSE 100 down 0.1% and FTSE 250 marginally lower.
- European equities mixed: CAC 40 up 0.2%, DAX 40 up 0.1%.
- US-Iran peace talks in focus; President Trump expressed optimism about the conflict ending soon.
- Oil prices stable, with Brent trading slightly lower at USD98.06 per barrel.
- UK government plans to reduce the link between gas prices and electricity costs to mitigate energy bill spikes.
- FTSE 100 movers: Intertek (+1.6%), Standard Life (+1.4%), Reckitt Benckiser (+1.4%); SSE (-3.9%), Centrica (-3.8%).
- FTSE 250: Workspace slumped 15% after warning of substantial decline in financial 2027.
- Smaller caps: ITM Power (+23%) on strategic partnership with Rheinmetall AG; Digital 9 Infrastructure (-22%) on share redemption.
- US markets ended higher on Thursday; Netflix plunged 9.6% in after-hours trading due to weak forecast.
- Asian markets closed lower: Nikkei 225 (-1.2%), Shanghai Composite (-0.1%), Hang Seng (-1.1%), S&P/ASX 200 (-0.1%).
- Gold slightly lower at USD4,797.95 per ounce.
LONDON MARKET EARLY CALL: FTSE 100 seen up as Iran talks loom
- London stocks expected to open slightly higher on Friday, with FTSE 100 futures up 0.1% at 10,603.59.
- Sterling weakened against the USD (1.3517) and EUR (1.1474) early Friday.
- US President Donald Trump announced the US and Iran are "very close" to a peace deal, with potential talks in Islamabad.
- Trump praised Pakistan's leadership for brokering negotiations and referred to Iran's enriched uranium as "nuclear dust."
- A 10-day ceasefire between Israel and Lebanon took effect, with Trump planning to host leaders for further talks.
- Brent oil prices dipped to USD98.06 per barrel early Friday.
- UK Chancellor Rachel Reeves affirmed constructive US-UK relations despite tensions over Iran.
- US markets closed higher Thursday: Dow +0.2%, S&P 500 +0.3%, Nasdaq +0.4%.
- Netflix shares dropped 9.6% post-market after Reed Hastings' resignation and weak Q2 sales forecast.
- Netflix reported Q1 net income of USD5.28 billion, revenue up 16% to USD12.25 billion, and EPS of USD1.23.
- Asian markets declined Friday: Nikkei -1.0%, Shanghai Composite -0.2%, Hang Seng -1.3%, S&P/ASX 200 -0.2%.
- Gold prices fell to USD4,797.95 per ounce early Friday.
- Corporate calendar: discoverIE Group trading statement.
- Economic calendar: Eurozone current account and trade balance data due Friday.
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