UK's FTSE 100 sees first weekly fall in six; Middle East tensions in focus
Britain's FTSE 100 snapped a five-week winning streak on Friday, closing out a week marred by a wave of global risk aversion amid the conflict between Israel and Iran, while a slew of interest rate verdicts were also assessed.
The blue-chip FTSE 100 dipped 0.2% to hit a more than two-week low, while the midcap index ended 0.4% higher, though with marginal weekly losses.
Drugmakers GSK and AstraZeneca were among the top drags on the FTSE 100, down 2.3% and 1.5% respectively.
Heavyweight energy shares gave back some of their gains from earlier this week as crude oil prices also edged lower. BP lagged with a 2.1% decline.
Oil prices came under pressure as the U.S. imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement.
A week into the conflict, Iran said it would not discuss the future of its nuclear programme while under attack by Israel.
London stocks fall as BoE keeps rates on hold
A global risk-off move on tensions in the Middle East bogged down stocks around the world, although the UK's oil-heavy benchmark - down 0.8% for the week - outperformed a 1.5% drop in the Europe-wide STOXX 600.
The week also saw a slew of central bank rate decisions, with both the
Bank of England and the U.S. Federal Reserve choosing to hold their rates steady.
Latest data showed UK retail sales saw their sharpest decline since December 2023 while consumer confidence rose to its highest level of 2025.
Among headlining stocks, Berkeley dropped 8.2% after the homebuilder reported results and forecast fiscal 2026 and 2027 profits below market expectations and proposed the appointment of CEO Rob Perrins as executive chair.
Metro Bank added 4% after two sources with knowledge of the matter told Reuters that the bank's biggest shareholder is open to selling his majority stake.
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Business Recorder
4 hours ago
- Business Recorder
UK's FTSE 100 sees first weekly fall in six; Middle East tensions in focus
Britain's FTSE 100 snapped a five-week winning streak on Friday, closing out a week marred by a wave of global risk aversion amid the conflict between Israel and Iran, while a slew of interest rate verdicts were also assessed. The blue-chip FTSE 100 dipped 0.2% to hit a more than two-week low, while the midcap index ended 0.4% higher, though with marginal weekly losses. Drugmakers GSK and AstraZeneca were among the top drags on the FTSE 100, down 2.3% and 1.5% respectively. Heavyweight energy shares gave back some of their gains from earlier this week as crude oil prices also edged lower. BP lagged with a 2.1% decline. Oil prices came under pressure as the U.S. imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement. A week into the conflict, Iran said it would not discuss the future of its nuclear programme while under attack by Israel. London stocks fall as BoE keeps rates on hold A global risk-off move on tensions in the Middle East bogged down stocks around the world, although the UK's oil-heavy benchmark - down 0.8% for the week - outperformed a 1.5% drop in the Europe-wide STOXX 600. The week also saw a slew of central bank rate decisions, with both the Bank of England and the U.S. Federal Reserve choosing to hold their rates steady. Latest data showed UK retail sales saw their sharpest decline since December 2023 while consumer confidence rose to its highest level of 2025. Among headlining stocks, Berkeley dropped 8.2% after the homebuilder reported results and forecast fiscal 2026 and 2027 profits below market expectations and proposed the appointment of CEO Rob Perrins as executive chair. Metro Bank added 4% after two sources with knowledge of the matter told Reuters that the bank's biggest shareholder is open to selling his majority stake.
Business Recorder
4 hours ago
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European shares edge up as US stalls its Middle East moves
European stocks snapped a three-day losing streak and closed higher on Friday, as investors' nerves eased following a stall in U.S. involvement in Middle East tensions. The pan-European STOXX 600 closed 0.1% higher. As Israel and Iran's air conflict entered its second week, European officials worked to bring Tehran back to diplomatic negotiations as Iranian Foreign Minister Abbas Araqchi arrived in Geneva for talks. The White House signalled President Donald Trump will decide within two weeks whether to throw U.S. support behind Israel in the ongoing conflict, a move that buoyed market sentiment and reignited some appetite for risk assets, which had been battered earlier in the week amid uncertainty over the conflict's duration. Despite Friday's modest gains, European stocks logged a second consecutive week of losses, as investors continued to fret over the potential global fallout from unrest in the Middle East. 'The uncertainty around the conflict means the risk of energy prices being higher,' said Franziska Palmas, senior Europe economist at Capital Economics. She added that higher energy prices could prompt the European Central Bank 'to keep rates at their current level rather than cutting them further.' European shares dive as Mideast tensions, US involvement fears weigh With the July 8 U.S. tariff-pause deadline looming, movement on trade deals with Washington has shown little progress, save for a formal agreement reached with London. European Commission President Ursula von der Leyen remains hopeful for a broader deal by July 9. Meanwhile, BofA Global Research raised its year-end target for the STOXX 600 to 530 from 500 on resilience in global growth following a U.S.-China trade deal. Travel and leisure stocks were up nearly 1%, led by a 6.5% gain in Europe's largest travel operator TUI after Barclays upgraded the stock to 'overweight'from 'underweight'. Energy shares lagged 0.6% as oil prices retreated, though the sector was the week's second-biggest gainer due to Middle East tensions that had boosted crude prices earlier. On the day, the insurance sector emerged as the top sectoral gainer, up 1.3%. Among other stocks, London's Berkeley was the biggest percentage decliner, down 8.1%. The homebuilder named current finance chief Richard Stearn as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations. Stora Enso jumped 14.7% to the top of the STOXX 600 after the Finnish forestry group announced a strategic review of its Swedish forest assets worth EUR 5.8 billion, including potential separation and public listing. Markets in Sweden and Finland were closed for a public holiday.
Express Tribune
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Rubio praises Pakistan's regional peace efforts in call with PM Shehbaz
A telephonic conversation was held between Prime Minister Shehbaz Sharif and US Secretary of State Marco Rubio on June 20, 2025. Photo: AFP/ APP Listen to article Prime Minister Shehbaz Sharif received a telephone call from US Secretary of State Marco Rubio on Friday, during which both sides discussed a wide range of regional and global issues in what was described as a cordial and friendly atmosphere. According to a statement issued by the Prime Minister's Office, the PM underscored that the escalating Iran-Israel crisis could only be resolved through dialogue and diplomacy. Prime Minister speaks with the U.S. Secretary of State Prime Minister Muhammad Shehbaz Sharif received a telephone call from U.S. Secretary of State Marco Rubio, this evening. During their warm and cordial conversation, the Prime Minister conveyed his best wishes for President… — PTV News (@PTVNewsOfficial) June 20, 2025 He reaffirmed Pakistan's commitment to playing a constructive role in all peace efforts amid a situation that poses serious concerns not only for the region but for the world at large. PM Shehbaz conveyed his best wishes for US President Donald Trump and lauded his courageous leadership. He also appreciated Rubio's active diplomacy, particularly his role in facilitating the ceasefire agreement between Pakistan and India. Highlighting Trump's positive statements on Pakistan, the PM called them encouraging steps toward long-term peace in South Asia. He stressed that sustainable peace could only be achieved through meaningful dialogue between Pakistan and India. In this context, he reiterated Pakistan's readiness to engage in talks with India on all outstanding issues, including Jammu and Kashmir, the Indus Waters Treaty, trade, and counterterrorism cooperation. Read: Trump calls meeting COAS Munir an honour at White House luncheon The situation in the Middle East also featured prominently in the discussion. PM Shehbaz reiterated that the only viable solution lies in peaceful dialogue and diplomatic engagement. He reaffirmed Pakistan's willingness to play a constructive role in defusing tensions. On economic matters, he referred to Trump's interest in strengthening bilateral trade and expressed Pakistan's desire to expand cooperation with the United States in key sectors such as trade, investment, energy, minerals, rare earth elements, and information technology. Reaffirming Pakistan's resolve to eradicate terrorism, the PM spoke about ongoing efforts to eliminate the threat posed by extremist groups such as the Balochistan Liberation Army (BLA), Tehreek-i-Taliban Pakistan (TTP), and others. Read More: Field Marshal Munir engages US think tanks on Pakistan's role in global peace In response, Rubio appreciated Pakistan's counterterrorism efforts and assured the United States' full support in this regard. PM Shehbaz also expressed satisfaction over the outcome of the recent meeting between Trump and Chief of Army Staff Field Marshal Asim Munir in Washington describing it as both pleasant and productive. Both sides agreed on the need to translate the recent progress in bilateral dialogue into concrete, practical cooperation across all areas of mutual interest. PM Shehbaz stressed the importance of maintaining high-level contacts and extended a renewed invitation to Trump to undertake an official visit to Pakistan. He expressed eagerness to meet with the US president soon and invited Rubio to visit Pakistan in the near future as well. Also Read: UN chief urges parties to 'give peace a chance' on Iran-Israel war In closing, US secretary of state thanked the PM for taking his call and expressed the United States' strong desire to deepen cooperation with Pakistan across all areas of shared interest. He also acknowledged Pakistan's continued efforts in maintaining the ceasefire with India and playing a positive role in promoting peace, particularly given its strong relations with Iran. Rubio emphasised that the United States remains committed to working closely with Pakistan to promote both regional and global peace and stability.
