FTSE 100 Down 0.1% Over Hormuz Stalemate

FTSE 100 fell 0.10% on 28 April 2026 as US‑Iran talks stalled and Trump rejected Iran’s Hormuz reopening proposal.
Oil market tension persisted with US naval blockade keeping Strait of Hormuz largely closed, supporting crude prices amid supply constraints.
UK markets noted BP’s Indiana refinery outage, Ineffable Intelligence’s $1.1 bn seed raise, and a challenge to a £9.1 bn motor‑finance compensation scheme.
Consumer sentiment improved as inflation expectations fell and Easter promotions eased shop‑price inflation, while Rachel Reeves faces pressure to cut public debt.