Overview
- UK blue chips fell again Friday, with the FTSE 100 closing at 10,379.08 and the index down 2.7% for the week alongside a 2.7% drop in the FTSE 250.
- Oil prices climbed as talks showed no progress on reopening the Strait of Hormuz, a key route for global crude shipments that has been constrained by the conflict.
- Bank of England deputy governor Sarah Breeden told the BBC that share prices do not reflect the range of global risks and said markets are likely to fall.
- Travel and airlines bore the brunt of higher fuel costs, with Wizz Air down 6.0% at the close and losses also hitting easyJet and British Airways owner IAG.
- Stock moves split by company news, with Computacenter up 9.9% after guiding past profit forecasts and packaging group Mondi down 11% after a quarterly profit miss.