Investing.com — British stocks fell on Friday, as an Iranian strike on a vessel in the Strait of Hormuz and a sweeping tech selloff in Asia combined to darken the mood across European markets.
The fell 0.37%, with the down 0.69% and the off 0.22%, as of 03:20 ET (07:20 GMT). The pound held steady at $1.3197.
Apple () added to the gloom after raising prices on iPads and MacBooks, citing rising memory and storage chip costs. The FTSE 100, while not directly exposed to the tech narrative, has been caught in the wider deterioration in equity sentiment.
Iran’s Revolutionary Guard Corps struck a Singapore-flagged cargo vessel in the Strait of Hormuz on Thursday, hitting its bridge though causing no injuries, according to the UK Maritime Trade Operations Centre.
The attack prompted the UN’s International Maritime Organization to pause its Hormuz escort operation, with IMO Secretary General Arsenio Dominguez saying seafarer safety was “paramount” and that the evacuation plan would remain on hold “until further clarity.”
The Persian Gulf Strait Authority, Iran’s body overseeing transit through the waterway, warned that vessels using routes outside its designated framework would not be covered by safe passage guarantees and would bear full liability for any consequences.
The question of transit fees remains unresolved. Secretary of State Marco Rubio, wrapping up a Gulf tour that included a meeting with the Gulf Cooperation Council in Bahrain, again rejected any system of charges, saying international waterways “do not belong to any nation state” and warning that allowing fees would spread “throughout the world like a contagion.”
Oman’s foreign minister said future arrangements “will not involve imposing any transit fees,” though Iran has been less definitive, saying it would work with Oman “to define future administration and maritime services in Strait of Hormuz.”
Oil slipped, with down 2.11% to around $73.91 a barrel and off 2.25% to $70.30. were little changed at $4,044.85, with up marginally at $4,0229.31.
UK round up
Heathrow forecast a £147 million decline in 2026 adjusted core profit from 2025, citing weaker traffic expectations linked to Middle East-related travel uncertainty and higher employment costs.