{"id":26700,"date":"2026-03-05T20:43:44","date_gmt":"2026-03-05T20:43:44","guid":{"rendered":"https:\/\/microvibenews.com\/?p=26700"},"modified":"2026-03-05T20:43:44","modified_gmt":"2026-03-05T20:43:44","slug":"ftse-100-plunges-oil-price-rises-as-tensions-grow-daily-business","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=26700","title":{"rendered":"FTSE 100 plunges, oil price rises as tensions grow \u2013 Daily Business"},"content":{"rendered":"

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\"Sir\"Sir
Sir Keir Starmer announcing defence strategy<\/em><\/figcaption><\/figure>\n

Stock markets plunged in afternoon trade after oil prices rose amid rising tensions in the Middle East.<\/p>\n

Brent Crude was trading 3.6% higher at $84.36 at the close of London\u2019s equity market. After opening higher, the FTSE 100 turned negative and closed 153.71 points (1.45%) lower at 10,413.94.<\/p>\n

In the US, the Dow Jones Industrial Average was down 1.6%, the S&P 500 index was 0.8% lower while the Nasdaq Composite dropped 0.6%. The pound was lower at $1.3309, down from $1.3365.<\/p>\n

Sir Keir Starmer announced that four Typhoon fighter jets were being sent to Qatar and France, Spain, Greece, Italy and the Netherlands are sending naval assets to the Mediterranean. He stood by his earlier decision not to get involved in attacks on Iran.<\/p>\n

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Kaja Kallas: expressed concern<\/em><\/figcaption><\/figure>\n

The EU\u2019s foreign policy chief Kaja Kallas expressed concern about the escalation of the conflict and the potential for civil war within Iran. BP announced it is withdrawing staff from Iraq, where it has just signed a major deal.<\/p>\n

AJ Bell head of financial analysis Danni Hewson, said: \u201cThe optimism which helped lift Asian and European markets early in the day evaporated like water droplets on a smouldering stove top.<\/p>\n

\u201cIt\u2019s becoming harder to see a quick resolution to the conflict in the Middle East and that in turn is forcing markets to look again at their interest rate expectations for the coming months.\u201d<\/p>\n

Even defensive stocks were not immune to today\u2019s sell-off. Superstar stock Rolls-Royce<\/strong> fell 73p (-5.36%) to 1290p. Also lower were mining stocks as a reduction in risk appetite hammered stocks in the sector, with\u00a0Fresnillo, Antofagasta, Rio Tinto\u00a0<\/strong>and\u00a0Anglo American<\/strong>\u00a0all in the red.<\/p>\n

Homebuilders were also hit. Taylor Wimpey<\/strong> has adopted a cautious outlook in view of current events that may impact demand. Full story here.<\/p>\n

Among the best performers were\u00a0Rentokil<\/strong>,\u00a0which rose after reaffirming guidance, and\u00a0Entain<\/strong>\u00a0which advanced as the Ladbrokes owner said full-year underlying EBITDA was ahead of expectations.<\/p>\n

Harbour Energy<\/strong> reported record production for the year ended 31 December, an 84% increase from 2024, but its \u00a32.1bn profits were wiped out by \u00a32.2bn tax bill, pushing it to a \u00a3136m loss.<\/p>\n

The company generated $1.1 billion in free cash flow, a significant improvement from $0.1 billion in the prior year. Shares rose 24.8p (9.52%) to 285.4p.<\/p>\n

The company\u2019s production in the UK has declined to less than a third from over 80% around three years ago, Harbour CEO Linda Cook said.<\/p>\n

\"Harbour\"Harbour
Tax hit: Harbour Energy<\/em><\/figcaption><\/figure>\n

Insurer Aviva<\/strong>\u00a0fell 21.8p (-3.27%) to 645.6p despite posting a 25% jump in full-year operating profit supported by a strong performance in its UK & Ireland and Canadian operations. Full story here.<\/p>\n

ITV <\/strong>posted full-year results ahead of market expectations, with revenue up 1% to \u00a33.5 billion, driven by 5% growth in ITV Studios\u2019 which, along with media & entertainment, accounts for two-thirds of revenue.<\/p>\n

A 10% growth in digital revenues offset a decline in linear advertising. Group adjusted EBITA decreased by 1% to \u00a3534 million.<\/p>\n

The company achieved \u00a363 million in permanent non-content cost savings and is continuing discussions with Sky regarding a possible sale of the M&E business.<\/p>\n

The company is proposing a 5p per share dividend. The shares were flat, up just 0.85p (+1.09%) at 78.5p.<\/p>\n

Carolyn McCall, ITV chief executive, said: \u201cITV delivered a good performance in 2025, ahead of current market expectations and against a challenging market backdrop.\u00a0 With a strong digital platform, we have successfully capitalised on growth opportunities, delivered resilient profits and generated good levels of cash.\u201d<\/p>\n

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