Market Overview
British equities edged higher on Thursday, with the FTSE 100 rising 0.49% to 07:25 GMT (03:25 ET). Germany’s DAX fell 0.11% and France’s CAC 40 gained 0.41%. The pound appreciated 0.14% against the U.S. dollar, trading at $1.3388.
Geopolitical Developments
The market held its nerve despite a second consecutive night of U.S. airstrikes on Iran and Iranian missile retaliation across the Gulf. U.S. Central Command confirmed precision strikes on Iranian military surveillance, communications and air‑defence sites, and President Donald Trump announced that 49 Tomahawk missiles were launched, warning of further action if Iran rejected a proposed nuclear‑deal framework. Iran’s Islamic Revolutionary Guard Corps responded by firing 12 ballistic missiles at Jordan’s Al‑Azraq Air Base and claimed attacks on U.S. sites in Kuwait and Bahrain. Bahrain activated air‑raid sirens, injuring an 11‑year‑old girl; Kuwait temporarily closed its airspace before resuming normal operations. Iran’s Khatam al‑Anbiya Central Headquarters declared the Strait of Hormuz closed to oil tankers, a claim CENTCOM rejected, stating commercial vessels continued to transit.
Monetary Policy Outlook
Investors were also focused on the European Central Bank’s upcoming interest‑rate decision later in the day, which could shape market direction.
Commodity Prices
Spot gold increased 0.90% to $4,107.87 per troy ounce, reflecting safe‑haven demand amid heightened conflict. Brent crude remained broadly flat around $93 a barrel and WTI crude at $90.01 a barrel.
UK Corporate Updates
Primark announced the appointment of Lucy Slinger as chief financial officer in preparation for its planned spin‑off from Associated British Foods. Intertek received an extension to June 18 to allow EQT AB to submit a formal £9.4 billion takeover offer, one of the largest private‑equity transactions in the UK. Wizz Air reported annual operating profit of €139.7 million, beating expectations, but withheld its FY2027 guidance due to ongoing uncertainty in the Middle East.