UK stock market today: FTSE 100 tumbles as oil shock rattles London shares
London’s FTSE 100 dropped 1.75% at the open as oil prices surged to nearly $120 a barrel amid the Iran war, hitting miners and travel stocks. Shell and BP gained, while Anglo American, Antofagasta, Rolls-Royce, IAG, and easyJet fell sharply. Sterling weakened 0.7% to $1.3333 as investors moved into the dollar. Two-year gilt yields jumped 37 basis points to 4.239%, the largest one-day rise since September 2022.