The FTSE 100 slipped 0.3% on Wednesday, pressured by rising oil prices and renewed worries over US–Iran negotiations. With little visible progress in the talks, mounting tensions in the Middle East further unsettled investors. US forces intercepted Iranian missiles and drones aimed at neighboring countries and subsequently struck a command center inside Iran in retaliation.
Banks, miners, and defence stocks generally traded lower, though oil majors lent some support to the index. Shares in Shell and BP advanced between 1.7% and 1.9%. B&M European Value Retail jumped more than 14% after posting a decline in annual profits but delivering continued like-for-like sales growth in the UK and France, with overall revenue boosted by new store openings.
Howden Joinery rose more than 3.5% after announcing an agreement to acquire DIY Kitchens in a deal that values the business at £390 million.
