With little detail flowing out of Saudi Arabia after drone attacks on a refinery and oil field over the weekend, traders in London were noticeably nervous as they awaited further details.
The London markets all sank as FTSE stocks were weighed down by the strengthening pound, which was buoyed by a surprise return to GDP growth.
Britain’s financial markets were in a calmer mood on Friday at the end of a dramatic week, with both the pound and the FTSE 100 only making small movements.
Marks & Spencer will drop out of the FTSE 100 for the first time since the index was created 35 years ago, after its value fell below the threshold for inclusion.
Top shares gained ground in London on Thursday as the global mood lightened thanks to apparent progress in US-Chinese relations.
The pound tumbled on Wednesday following news that Boris Johnson had gained the Queen’s permission to suspend Parliament.
The value of the pound has crashed lower after traders were spooked by news that the Government is expected to suspend Parliament from mid-September.
Bosses at Britain’s biggest firms are taking home smaller pay packages on average, but their remuneration still massively outstrips that of the average worker, new research has shown.
Top shares in London recovered some of the losses they had incurred earlier in the week on Friday, despite a slow start to the day as the market failed to open on time.
The London Stock Exchange opened almost two hours late on Friday as a technical issue delayed trading in the City’s top shares.
London markets took another battering on Thursday as fears of a recession and a stronger pound pushed shares lower.
The pound fell to a 31-month low on Friday, as the latest UK economic growth figures showed an unexpected contraction in the second quarter.
Top-flight shares in London were lower on Tuesday as the pound strengthened a little, while markets regained their nerve following a drop in Asian stocks overnight.
Global markets fell sharply after investors were spooked by Donald Trump’s threat to impose hefty tariffs on Chinese goods as the trade war continued to escalate.
London’s top-flight stocks rallied at the end of the week, benefiting from a weaker pound as tensions between new Prime Minister Boris Johnson and the EU emerged.
Stocks were under pressure on Thursday, after a mixed update from the European Central Bank and a slow start to trading in the US.
The pound gained strength on Wednesday as Boris Johnson officially took office, while the Euro suffered from jitters ahead of a central bank meeting.
The markets showed very little movement on Tuesday as the confirmation of Boris Johnson as the next prime minister came as no surprise to traders already braced for his victory.
An eerie calm descended across the markets on Monday as traders and investors held their collective nerves before the announcement of the next prime minister.
The pound made a tentative comeback on Thursday, as MPs passed an amendment which threw another obstacle in the way of a no-deal Brexit.
London stocks were down on Wednesday as oil prices took a hit, while the pound staged a tentative recovery from the previous day’s drop.
The FTSE 100 was subdued as investor sentiment in the UK failed to match positivity in the US, where the Dow Jones jumped after the Federal Reserve chief suggested a rate cut could be on the cards.
Strong jobs data from the US weighed on the pound on Friday, while London’s top-flight shares ended the week in the red.
Paddy Power owner Flutter Entertainment topped London’s blue-chip index on Wednesday amid a mysterious rally in its share price, leading another day of gains on the market.
Bad news battered the pound on Tuesday as Britain’s construction sector suffered its worst monthly slump for 10 years, but London’s top shares rose on the back of weaker sterling.
The pound lost ground on Monday after Britain’s manufacturing output undershot expectations, while shares in London were trading higher.
London’s top shares only just avoided slipping into the red on Tuesday as geopolitical tensions continued to weigh on the markets.
London’s blue-chip index was lower on Wednesday after a hit to oil prices weighed on commodity stocks.
Unilever is facing further opposition to its move from London to Rotterdam as another shareholder signalled its intention to vote against the plan.
London’s blue chip index edged out of the red on Thursday as US president Donald Trump played down the prospect of an attack in Syria.