The FTSE 100 Index Closes 0.66% Lower

The FTSE 100 Index dropped -71 points or 0.66 percent on Monday to close at 10597 points. Losses were led by Vistry Group (-4.68%), Antofagasta (-4.43%) and Persimmon (-3.74%). Offsetting the fall, top gainers were Centrica (2.94%), BP (2.59%) and Shell (2.19%).

The FTSE 100 fell more than 0.5% on Monday as renewed tensions between the US and Iran weighed on sentiment, with oil and gas prices jumping around 6%. President Donald Trump said the Strait of Hormuz will remain blocked until a deal is reached, adding he would not rush negotiations. Rolls Royce dropped over 3.5% and mining stocks were under pressure as Antofagasta lost more than 4.5% while Fresnillo and Endeavour fell about 3% and 1.2%. Travel stocks also weakened, with EasyJet down over 3% and IAG falling 2.1%, while major banks including HSBC, Lloyds, Barclays and NatWest declined between 1.4% and 2.5%. In contrast, energy and utility names gained, with BP and Shell rising 2.6% and 2.2% and Centrica and SSE also advancing. Investors now look ahead to updates from Rio Tinto, AB Foods and British Land.

The FTSE 100 fell more than 0.5% on Monday as renewed tensions between the US and Iran weighed on sentiment, with oil and gas prices surging after the US Navy seized an Iranian vessel and Tehran responded by firing at ships and again closing the Strait of Hormuz. Iran said the move followed a US blockade of its linked vessels, which it claims breached a ceasefire agreement. Travel stocks led declines with EasyJet and IAG dropping over 3%, while major banks including HSBC, Lloyds, Barclays and NatWest fell between 1.4% and 2.5%. Rolls Royce also lost around 3%. Mining stocks were under pressure, with Antofagasta down more than 4% and Fresnillo and Endeavour falling 3% and 2.4%. In contrast, energy giants BP and Shell were among the top gainers, rising 3.1% and 2.4% respectively as oil prices jumped.