The FTSE 100 slipped on Monday as investors weighed escalating tensions in the Middle East following a fresh round of US–Iran airstrikes over the weekend. Tehran claimed it had closed the Strait of Hormuz after striking US facilities across several Gulf states, but President Donald Trump dismissed the claim, insisting the vital shipping lane remained open to commercial traffic.
Energy stocks outperformed, supported by higher oil prices, with Shell rising 1.4% and BP advancing 2.5%. However, those gains were offset by broad-based weakness elsewhere in the index. Miners retreated, with Endeavour down nearly 2%, Fresnillo off 1.4%, Antofagasta losing 1.8%, and Anglo American easing 0.8%. Financials also came under pressure: Standard Chartered and Barclays both fell around 1%, while HSBC and Lloyds Banking also traded lower. In contrast, GSK added 0.9% after announcing encouraging interim trial results for its cancer treatment Jemperli.
