14th Apr 2026 12:09
(Alliance News) - Stock prices in London were mixed at midday Tuesday, with the FTSE 100 little changed while mid-caps advanced, as investors continued to monitor developments in the Middle East.
The FTSE 100 index was down 4.38 points, marginally lower at 10,578.66. The FTSE 250 was up 253.85 points, 1.1%, at 22,530.74, and the AIM all-share was up 6.85 points, 0.9%, at 789.16.
The Cboe UK 100 was marginally higher at 1,055.76, the Cboe UK 250 was up 1.4% at 19,639.57, and the Cboe small companies was up 0.2% at 17,760.61.
In European equities on Tuesday, the CAC 40 in Paris was 0.5%, while the DAX 40 in Frankfurt was up 1.0%.
Markets remained focused on developments in the Gulf after the US blockade of Iranian ports came into effect at 15:00 BST on Monday, as announced by President Donald Trump.
US Vice-President JD Vance accused Iran of engaging in "economic terrorism" earlier in the conflict by restricting access to the Strait of Hormuz.
"Well, as the president of the United States showed, two can play at that game," Vance said. "If the Iranians are going to try to engage in economic terrorism… no Iranian ships are getting out, either."
The US military has stressed it "will not impede" vessels transiting the strait to and from non-Iranian ports. On Tuesday, shipping data showed at least one tanker had successfully passed through, reportedly sailing from the United Arab Emirates to China.
Iran's ambassador to the United Nations described the blockade as a "grave violation" of national sovereignty.
At the same time, there were tentative diplomatic signals elsewhere in the region. Direct talks between Lebanese and Israeli officials are scheduled to take place in the US later on Tuesday, marking the first such negotiations in decades.
Oil prices retreated from recent peaks. Brent was trading at USD98.94 a barrel early Tuesday, slipping back below the USD100 threshold and down from USD101.95 late Monday.
Separately, China vowed to impose "countermeasures" after Trump threatened new tariffs on Chinese goods if Beijing provided military assistance to Iran during the conflict.
The pound was quoted at USD1.3555 early Tuesday, higher than USD1.3451 at the London equities close on Monday. Against the euro, sterling edged up to EUR1.1493 from EUR1.1492 a day prior.
The euro traded at USD1.1796 early Tuesday, higher than USD1.1705 late Monday. Against the yen, the dollar was quoted at JPY158.82, lower than JPY159.10.
On the FTSE 100, Intertek Group climbed 12% after launching a strategic review of its Energy & Infrastructure division, considering options including a potential sale or demerger.
The London-based assurance, inspection and testing group said the process will assess the best route to unlock value from Intertek Energy & Infrastructure, with completion and implementation targeted by mid-2027.
At the other end of the blue-chip index, Imperial Brands slumped 8.2%. The tobacco group reiterated full-year guidance and reported a positive start to its 2030 transformation strategy, with first-half trading in line with expectations, but investors focused on weaker volumes.
Imperial expects low-single-digit net revenue growth across tobacco and next-generation products in the first half, supported by pricing and innovation. It maintained guidance for at least high-single-digit earnings per share growth, free cash flow of at least GBP2.2 billion, and 3-5% adjusted operating profit growth.
The company said it has seen no material impact from Middle East tensions so far, though uncertainty remains for the second half.
BP edged down 0.4% as it said it expects an "exceptional" oil trading result in the first quarter following a weak fourth quarter, helped by stronger refining margins and higher oil prices.
BP said Brent averaged USD81.13 per barrel during the period, up from USD63.73 in the fourth quarter, while its refining indicator margin improved to USD16.9 per barrel from USD15.2.
The company cautioned that heightened volatility in crude oil, natural gas and refined products, driven by the Middle East crisis, is expected to affect financial results, including trading performance and working capital movements.
On the FTSE 250, THG rose 8.9%, Ceres Power Holdings gained 8.8%, and Wizz Air climbed 7.3% on hopes that renewed Iran peace talks could ease fuel price volatility.
Among smaller caps, James Cropper jumped 27% after saying it expects higher full-year revenue and earnings, with trading momentum continuing into the new financial year.
The company guided for revenue of GBP103 million, up 4% year-on-year, and adjusted Ebitda of GBP8.8 million, up 30% and around 10% ahead of market expectations. It said it is monitoring the evolving geopolitical situation in the Middle East.
Technology Minerals advanced 25% after its subsidiary, Recyclus, secured a transfrontier waste licence, allowing continued black mass exports under its Glencore agreement. The licence covers up to 600 tonnes across 40 shipments. Recyclus also received ISO accreditation, bolstering its operational and regulatory credentials.
TheraCryf rose 15% after saying it had rejected an indicative proposal for its lead neuropsychiatry assets. The company said the offer did not reflect the current or future value of the assets and confirmed that discussions have been terminated.
Permanent TSB was up 0.7%.
The lender said it has agreed to a EUR1.62 billion takeover from Austria's Bawag Group, after a "robust and competitive formal sale process".
Stocks in New York were called higher. The Dow Jones Industrial Average was called up 0.1%, the S&P 500 index up 0.2%, and the Nasdaq Composite up 0.4%.
BlackRock shares rose 1.1% in premarket trading in New York after the asset manager expressed optimism about future opportunities, with earnings jumping 46% in the first quarter.
The New York-based firm reported net income of USD2.21 billion for the first quarter, up 46% from USD1.51 billion a year earlier. Diluted earnings per share improved to USD14.06 from USD9.64.
Revenue increased 27% to USD6.70 billion from USD5.28 billion. Investment advisory, administration fees and securities lending revenue rose 24% to USD5.44 billion from USD4.40 billion, as the company reported USD130 billion in net inflows for the period.
The yield on the US 10-year Treasury was quoted at 4.29%, narrowing from 4.33%. The yield on the US 30-year Treasury was quoted at 4.90%, narrowing from 4.93%.
Gold was quoted at USD4,769.69 an ounce, edging up from USD4,765.99 late Monday, supporting precious metal producers.
Still to come on Tuesday's economic calendar are the International Energy Agency's oil market report and US producer prices.
By Eva Castanedo, Alliance News reporter
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