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FTSE 100 closes higher after Britain's move to hold talks on Strait of Hormuz
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FTSE 100 closes higher after Britain's move to hold talks on Strait of Hormuz
Apr 2, 2026 9:49 AM

April 2 (Reuters) - London's FTSE 100 stock index closed

higher on Thursday after Britain said it would host talks on

reopening the Strait of Hormuz.

British foreign minister Yvette Cooper will chair the

virtual meeting of about 35 countries, including France,

Germany, Italy, Canada and the United Arab Emirates on Thursday

to explore ways to restore freedom of navigation in the area.

The United States is not due to attend.

U.S. President Donald Trump has vowed more aggressive

strikes on Iran, saying military operations would be

intensified.

Iran is drafting a protocol with Oman to monitor traffic in

the Strait of Hormuz, the official IRNA news agency cited the

Deputy Foreign Minister as saying on Thursday.

The blue-chip FTSE 100 index closed up 0.6%, while

the midcap FTSE 250 closed down 0.2%. Both indexes

logged weekly gains in a holiday-shortened week.

* The energy index rose 2.7%, leading gains

as oil hit around $110 a barrel after U.S. President Donald

Trump vowed continued attacks on Iran.

* Oil majors BP and Shell rose 2.6% and 2.9%

respectively, ranking among the top gainers on the benchmark

index.

* The pharma index climbed 1.7% as

AstraZeneca ( AZN ) rose 1.9% after it said a late-stage trial

showed its Imfinzi combination improved progression-free

survival in a common liver cancer.

* British business confidence fell from +2.8 on the eve of

the conflict to -1.1 by the end of the 10-week survey period on

March 16, according to a survey of accountants that echoed

similar concerns from other groups since the start of the

U.S.-Israeli attacks.

* British companies expect to raise prices more quickly in

the coming 12 months as they respond to a surge in energy prices

due to the Iran war, a Bank of England (BoE) survey showed.

* Markets are pricing in more than two quarter-point hikes

by the BoE by the end of the year, according to data compiled by

LSEG.

* Markets will be closed for Good Friday and Easter Monday.

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