UK's FTSE 100 closes lower as Middle East uncertainty persists; inflation rises

Wed, 22nd Apr 2026 17:08

April 22 (Reuters) - London's FTSE 100 ⁠closed slightly lower on Wednesday, with industrials and heavyweight financials weighing, while investors monitored the fragile Middle East truce and assesseddomestic inflation ‌data. The blue-chip FTSE 100 index ended the session 0.2% lower, while the midcap FTSE ⁠250 was flat. Iran tightened its grip over ⁠the Strait of Hormuz after U.S. President Donald Trump extended the ceasefire with Iran but uncertainty persisted over whether the deal will hold.

* Oil prices moved higher, with Brent crude rising above $100 ‌a barrel, following reports that at least three container ships were hit by gunfire in the Strait of Hormuz.

* The rise in crude prices weighed on airline stocks with British Airways owner IAG down 3.4%, EasyJet dipping 2.8% and Wizz Air losing 1.6%, respectively.

* Oil majors BP and Shell rose ‌1.6% and 0.7%, respectively.

* Miners Fresnillo, Rio Tinto, Glencore and Anglo American gained between 2% and 3%, tracking ‌a rise in prices of precious and base metals.

* Official data showed British consumer price inflation rose to 3.3% in March from 3% in February, underscoring the Iran war's impact on price levels.

* "The CPI figures confirm that the supply chain ‌and energy pressures are beginning to bite, and the Bank of England's room for manoeuvre is narrowing fast," said Nick Saunders, CEO of Webull UK, in ⁠a note.

* Reckitt, ⁠which makes Dettol soap and Durex condoms, missed ‌quarterly like-for-like revenue estimates, pushing shares down 4.6%.

* Business supplies distributor Bunzl gained 2.1% after posting a rise in first-quarter revenue. JD Sports lost about 4% after chairman Andrew ‌Higginson planned an exit.

* Quilter rose 5.1% after the money manager reported record first-quarter inflows of 3.1 billion pounds ($4.2 billion). (Reporting by Utkarsh Tushar Hathi and Purvi Agarwal in Bengaluru; Editing by Diti Pujara/Keith Weir)