20.04.202615:52:58UTC+00FTSE 100 Falls on Monday

The FTSE 100 fell more than 0.5% on Monday as renewed tensions between the US and Iran weighed on risk appetite, sending oil and gas prices up by around 6%. President Donald Trump said the Strait of Hormuz would remain blocked until a deal is reached, adding that he would not be rushed into negotiations.

Rolls-Royce slid over 3.5%, while mining stocks also came under pressure: Antofagasta lost more than 4.5%, and Fresnillo and Endeavour declined by roughly 3% and 1.2%, respectively. Travel names weakened as well, with EasyJet down more than 3% and IAG off 2.1%. Major banks were also lower, with HSBC, Lloyds, Barclays and NatWest retreating between 1.4% and 2.5%.

In contrast, energy and utility stocks advanced. BP and Shell gained 2.6% and 2.2%, respectively, while Centrica and SSE also moved higher. Investors now turn their attention to upcoming updates from Rio Tinto, AB Foods and British Land.