FTSE 100 Declines Amid Renewed US-Iran Tensions

Mo. Basuony

Published: April 13, 2026 1:14 PM ET

FTSE 100 Declines Amid Renewed US-Iran Tensions

Market totals and index movements

The FTSE 100 closed down 17.57 points, or 0.2%, at 10,582.96. The FTSE 250 slipped 74.13 points, or 0.3%, to 22,276.89.

The AIM All-Share rose 4.83 points, or 0.6%, to 782.31. These declines came amid renewed US-Iran tensions and a jump in oil prices.

Geopolitical triggers and oil

President Donald Trump announced the blockade after vice president JD Vance left talks with an Iranian delegation in Pakistan without a deal. The US set a 2pm Monday deadline to begin a partial blockade of the Strait of Hormuz.

US Central Command said the measure would be enforced impartially against vessels entering or leaving Iranian ports. Tehran had effectively restricted traffic in the strait since late February.

Oil and commodities

Brent traded at $101.95 a barrel on Monday afternoon. That compared with $96.14 at the close in London on Friday.

Gold eased to $4,714.40 an ounce, down from $4,775.63 on Friday. Analysts noted futures for later deliveries remain priced below current spot rates.

Analyst commentary

David Morrison at Trade Nation said reopening the strait is crucial for a sustained rally in risk assets. He added some traders expect the conflict to be resolved by summer.

Kathleen Brooks at XTB urged viewing the recent talks as a process, not a single event. She said hopes for further negotiations have limited the market sell-off.

Global equity and bond moves

European markets also fell, with the CAC 40 and the DAX 40 each down 0.3%. In New York, the Dow lost 0.6% while the Nasdaq rose 0.3%.

US 10-year Treasury yields were at 4.33%, up from 4.30% on Friday. The 30-year yield moved to 4.93% from 4.90%.

Currency moves

The pound weakened to $1.3451 from $1.3472 on Friday. Sterling strengthened slightly to €1.1492 from €1.1482.

Corporate winners and losers

Banking and travel names saw pressure. Goldman Sachs shares fell 3.6% despite reporting $17.23 billion in first-quarter net revenue, up 14% year-on-year.

Citigroup analyst Keith Horowitz pointed to a decline in the CET1 capital ratio and weak Fixed Income, Currencies & Commodities performance.

Associated British Foods fell 2.0% after an RBC downgrade. The firm faces pressure at Primark.
Wickes dropped 5.1% after Panmure Liberum cut its rating to hold.
Hays slipped 2.1% ahead of a trading update.
easyJet fell 2.4% and Wizz Air lost 5.4% on travel concerns.
Carnival shed 2.6% and WH Smith dropped 3.2%.
Essentra plunged 11% after Deutsche Bank downgraded the stock to hold.

Retail and consumer updates

Mothercare plunged 21% after reporting weaker results for financial 2026. Adjusted EBITDA fell to £1.3 million, down from £3.5 million the prior year.

Worldwide retail sales by franchise partners declined 22% to £180 million. The company said the Middle East conflict cost around £100,000.

Top movers on the FTSE 100

Notable risers included Metlen Energy & Metals, Sage Group, 3i Group, London Stock Exchange, and BAE Systems. Major decliners included United Utilities, Severn Trent, National Grid, Marks & Spencer, and Fresnillo.