- London stock markets closed lower on Wednesday, with the FTSE 100 down 0.6%, as uncertainty from the Middle East conflict and fears of higher inflation weighed on investor sentiment.
- Geopolitical tensions in the Middle East, including Iran's targeting of energy infrastructure and US warnings about civilian ports, prompted the International Energy Agency to release 400 million barrels of oil from reserves.
- Brent oil prices rose, leading to gains for oil majors Shell and BP on the FTSE 100, while the pound and euro both fell against the US dollar.
- Legal & General shares were the biggest fallers on the FTSE 100, dropping 6.8% after reporting mixed results and missing analyst consensus, despite announcing a record £1.2 billion share buyback programme.
- Balfour Beatty's shares jumped 8.9% on the FTSE 250 following a 51% surge in pretax profit and a recommended 13% increase in its final dividend for 2025.
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