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UK stocks pull back after rally on Middle East ceasefire doubts
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UK stocks pull back after rally on Middle East ceasefire doubts
Apr 9, 2026 3:08 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

April 9 (Reuters) - The main UK stock indexes eased on

Thursday after recording their strongest session in months a day

earlier, as oil prices rebounded on growing doubts over a

fragile ceasefire in the Middle East conflict.

The blue-chip FTSE 100 dipped 0.3% by 0927 GMT,

while the midcap FTSE 250 slipped 1.1%.

* The FTSE 350 energy index climbed 1% as oil

prices jumped almost 3% on concerns that energy

flows through the crucial Strait of Hormuz will remain

restricted.

* Viability of the ceasefire is in question amid continued

Israeli strikes on Lebanon, causing Iran to suggest it would be

"unreasonable" to proceed with talks to forge a permanent peace

deal.

* The FTSE 100 recorded its biggest percentage gain

in a year on Wednesday after the two-week ceasefire deal

between the U.S. and Iran.

* Rate-sensitive homebuilders came under

pressure as bond yields edged higher. Two-year gilt yield

, which reflects near-term rate expectations, rose to

4.25% after its largest one-day fall since March 2023.

* Traders were betting on 40 basis points of rate hikes from

the Bank of England by the end of this year, compared to 32 bps

on Wednesday.

* Britain's housing market cooled noticeably last month as

economic uncertainty stemming from the Iran war unnerved buyers

who face rising mortgage rates, a survey from the Royal

Institution of Chartered Surveyors showed.

* Ceres Power Holdings ( CPWHF ) fell 7.7% after brokerage

Peel Hunt downgraded the clean energy technology developer's

stock to "sell" from "hold."

* ME Group International climbed 3.7% after

the vending machine operator secured a partnership with retailer

ASDA to install Wash.ME laundry machines.

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