FTSE 100 slumps more than 1% to seven-week low
FTSE 100 fell more than 1% to a seven-week low on Wednesday. Brent crude surged to $101 a barrel amid renewed Middle East fighting; energy stocks rose while HSBC, Unilever, BAT and several industrials fell.
The FTSE 100 fell more than 1% to a seven-week low on Wednesday as Brent crude surged to $101 a barrel, its highest level since May, amid renewed fighting in the Middle East. The US destroyed five Iranian crude-carrying tankers following an attempted strike on a US Navy warship, while Tehran fired missiles towards Jordan and warned vessels in the Persian Gulf. 7%. Aberdeen Group edged lower after earlier gaining more than 2% following the appointment of Torbjörn Magnusson as chairman, subject to regulatory approval.
Elsewhere, financials, consumer staples, industrials and materials came under heavy selling pressure. 3%, respectively. 5% and Glencore lost 1%. 8%.