UK shares end lower as Iran conflict continues to roil markets
(Il Sole 24 Ore Radiocor) - Milano, 6 mar - Shares in London closed lower, giving up early gains, as oil prices continued to rise after Qatar's energy minister told the Financial Times today that Gulf energy producers may be forced to call force majeure on production in coming days in a move that could take oil prices to 150 dollars a barrel.
As the conflict between the US and Iran entered its seventh day, US president Donald Trump said there would be no deal to end the US war against Iran without an 'unconditional surrender' by Iran.
Trump also said he would work to bring Iran back making it 'economically bigger, better, and stronger than ever before.' Miners and banks were mostly lower.
Antofagasta lost 3.09% at 3,738.00 pence while HSBC dropped 2.64% at 1,245.00 pence.
On the data front, house prices in the UK rose 0.3% in February from January, when they rose 0.8%, and grew an annual 1.3%, accelerating from 1.1% the earlier month, according to data released by lender Halifax.
Rightmove jumped 5.53% at 466.00 pence.
However inflationary concerns worried investors dragging most homebuilders lower. Persimmon and Taylor Wimpey lost 1.93% at 1,294.50 pence and 2.10% at 98.44 pence, respectively.
The London FTSE 100 closed down 1.24% at 10,284.75 points.
(RADIOCOR) 06-03-26 18:18:11 (0547) 5 NNNN