UK's FTSE 100 Flat as US-Iran Tension Resurfaces
London's FTSE 100 ended little changed at 0.02% in the red on Monday, as investors evaluated the exchange of hostilities between the US and Iran over the weekend, with Iran claiming the effective closure of the Strait of Hormuz. "Attacks on shipping in the Strait of Hormuz and US retaliation this week highlight the upside risk to our inflation forecast," Berenberg said July 10. "Investors' belief that the [Bank of England] will raise interest rates if oil prices rise again is a useful insurance policy that bears down on demand every time the US-Iran conflict flares up. Over time, we expect the incoming data to show that demand is already weak enough to prevent underlying inflation picking up, and the BoE to let its insurance policy of future rate hikes lapse." In corporate news, GSK's (GSK.L) phase 2 Azur-1 trial met its primary objective after Jemperli demonstrated sustained clinical complete responses at 12 months in patients with stage II/III mismatch repair deficient/microsatellite instability-high locally advanced rectal cancer. The positive interim results will be submitted to global regulators to aid Jemperli's review, including an accelerated evaluation in the US.
London's FTSE 100 ended little changed at 0.02% in the red on Monday, as investors evaluated the exchange of hostilities between the US and Iran over the weekend, with Iran claiming the effective closure of the Strait of Hormuz. "Attacks on shipping in the Strait of Hormuz and US retaliation this week highlight the upside risk to our inflation forecast," Berenberg said July 10. "Investors' belief that the [Bank of England] will raise interest rates if oil prices rise again is a useful insurance policy that bears down on demand every time the US-Iran conflict flares up.
Over time, we expect the incoming data to show that demand is already weak enough to prevent underlying inflation picking up, and the BoE to let its insurance policy of future rate hikes lapse." In corporate news, GSK's (GSK.L) phase 2 Azur-1 trial met its primary objective after Jemperli demonstrated sustained clinical complete responses at 12 months in patients with stage II/III mismatch repair deficient/microsatellite instability-high locally advanced rectal cancer.
The positive interim results will be submitted to global regulators to aid Jemperli's review, including an accelerated evaluation in the US.