* FTSE 100 down 0.2%, FTSE 250 down 0.2%
* Miners lead gains as gold rebounds
* BoE bets trimmed after Trump remarks
* Goodwin slumps on dividend-cut risk from Middle East
delays
(Updates to market close)
March 23 (Reuters) - The UK's FTSE 100 eased on Monday,
recovering from sharp losses earlier after U.S. President Donald
Trump ordered a pause on military strikes against Iranian power
plants, prompting traders to rein in their rate-hike
expectations.
The blue-chip FTSE 100 fell as much as 2.4% during the
session before recovering to close down 0.2%, near a three-month
low.
Heavyweight oil majors BP and Shell fell
2.2% and 4.2% respectively, following a sharp slide in crude
prices, as Trump's comments came ahead of a deadline that had
raised fears of further escalation in the four-week-old Middle
East war.
The mid-cap FTSE 250 dipped 0.2%.
British 10-year gilt yields hit 5.118%, their
highest since July 2008, before steadying around 5.00%, while
investors scaled back Bank of England rate-hike bets to around
three quarter-point moves this year, down from four earlier in
the session.
Goodwin shares nearly halved in value after the
mechanical engineering firm said it was considering cutting
dividend payouts as the Iran conflict led to order delays in the
Middle East.
British Prime Minister Keir Starmer summoned a national
emergency meeting to deal with the economic fallout from the war
in Iran, with finance minister Rachel Reeves and Bank of England
Governor Andrew Bailey in attendance.
Starmer said that Britain must plan for the possibility that
the Iran war could continue for some time, but added that he had
no "meaningful concerns" about energy supply.
Energy stocks posted the biggest losses among
sector indexes, falling from last week's record highs as oil
prices dropped sharply.
Most sectors traded in the green, with precious metal miners
providing the biggest boost after gold rebounded
from a four-month low.
Among other stocks, betting company Entain ( GMVHF ) rose
8.2%, topping the benchmark index after a WSJ report said that
U.S. lawmakers are to introduce bipartisan bill banning sports
bets on prediction markets.