Escalation of Iran-US tensions ends the upward trend of the London Stock Exchange
The London Stock Exchange entered a downward trend after seven consecutive days of growth, influenced by the renewed escalation of tensions between Iran and the US.
Reuters reported that increased uncertainty about the reopening of the Strait of Hormuz and the resumption of military conflicts has put new pressure on financial markets.
The FTSE 100 index, which reflects the performance of the 100 largest companies on the UK stock exchange, fell by 0.8% today, reaching 10,418 points.
The index of medium-sized companies on the London Stock Exchange also decreased by 0.4%.
Among the companies, shares of the telecommunications group BT fell by approximately 4.7%, marking the largest drop in the market.
In contrast, shares of energy and defense companies were the only positive sectors in the market.
Reuters had written that hopes for the reopening of the Strait of Hormuz and reduced expectations for an interest rate hike in the UK were factors behind the recent growth of this country’s stock market.