Wall Street closes at a record for the first time since end of January
Investing.com -- British equities slipped on Monday after U.S.-Iran weekend talks broke down and the U.S. President Donald Trump threatened an “immediate” blockade of the Strait of Hormuz.
The blue-chip index FTSE 100 fell 0.2% and the GBP/USD was flat at 1.3459. The DAX index in Germany also fell 0.2% and the CAC 40 in France declined 0.3%.
Meanwhile, British Prime Minister Keir Starmer said on Monday that Britain will not participate in the Iran war or be involved in a blockade of the Strait of Hormuz. "We’re not supporting the blockade," Starmer told BBC Radio 5 Live, adding that it was vital to get the Strait reopened.
UK round up
- Global oil and gas stocks rose after oil prices pushed back above $100 a barrel, as the U.S. Navy moved to block maritime traffic to and from Iran through the Strait of Hormuz following the collapse of talks between Washington and Tehran to end the war. Energy-linked equities in Europe and the U.S. rose as well. ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) each climbed more than 2% in premarket trading, while ConocoPhillips (NYSE:COP) added 3.4% and Occidental Petroleum (NYSE:OXY) added 3.1%. BP (LON:BP) and Shell (LON:SHEL) rose around 1.4% each in London trading, TotalEnergies (EPA:TTEF) edged higher 1.3%, and Repsol (BME:REP) added 2%.
- European airline stocks fell between 2.7% and 7.7% as Brent crude oil surged 8% to $102.78 a barrel, as of 05:00 ET, pressuring carriers including Ryanair (LON:RYA), IAG (LON:ICAG), Lufthansa (ETR:LHAG), Air France-KLM (EPA:AIRF), easyJet (LON:EZJ) and Wizz Air (LON:WIZZ).
- Vistry Group (LON:VTYV) shares fell 4.1% following the announcement that Adam Daniels has been appointed Chief Executive Officer and Executive Director with immediate effect. Daniels, currently the Executive Chair of one of Vistry’s two largest operating divisions and a member of the Group’s Executive Leadership Team, succeeds Greg Fitzgerald who is stepping down as Executive Chair and CEO by mutual agreement.
- Shares of Wise (LON:WISEa) jumped over 5% after the payments firm reported a 27% surge in quarterly cross-border volumes and a 24% rise in underlying income for Q4 FY2026, as it pushes ahead with a U.S. stock market listing slated for May 11. Cross-border volume reached £49.4 billion in Q4 FY26, up from £39.1 billion a year earlier. Underlying income rose to £435.3 million from £350.4 million in Q4 FY25.
- The Bank of England published new and updated guidance on how it might implement the UK’s resolution regime in the event of a bank failure. The resolution regime is designed to ensure that banks can fail safely, without disruption to critical services such as payments and deposit access, and without relying on public funds.
- Bernstein upgraded Ryanair to outperform and cut easyJet and Wizz Air to market-perform, citing about $200/MT rise in the European jet fuel forward curve following the Iran conflict that analysts said has fundamentally altered the sector’s earnings outlook.
- UBS has cut its UK economic growth forecast for 2026 to 0.6% from 1.1%, as elevated energy prices stemming from the Iran conflict push inflation higher and squeeze both consumer spending and corporate margins, according to a UBS note. The revision comes as a two-week ceasefire in Iran holds, with oil prices up roughly 40% and wholesale gas prices about 50% higher since the start of the conflict.
- RBC Capital Markets downgraded WH Smith (LON:SMWH) to sector perform from outperform in a note, cutting its price target to 650p from 675p after trimming FY26-27 pre-tax profit forecasts by 3-4%, placing its estimates just below the bottom end of the company’s own £100-115 million guidance range.