09/07/2026
FTSE 100 today:Stocks fall on U.S.-Iran fears; AstraZeneca hit by trial miss
British stocks fell on Thursday as escalating conflict in the Middle East weighed on sentiment, while heavyweight AstraZeneca slumped after its experimental heart drug failed a late-stage trial.
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The FTSE 100 fell 0.49% as of 03:30 ET (07:30 GMT), underperforming European peers as Germany’s DAX rose 0.61% and France’s CAC 40 gained 0.45%, while sterling strengthened 0.30% against the dollar to $1.3426.
U.S. Central Command said it struck approximately 90 Iranian military targets overnight, including air defense systems, missile and drone storage sites and naval infrastructure along Iran’s coastline, in the second consecutive night of operations aimed at degrading Tehran’s ability to threaten commercial shipping in the Strait of Hormuz.
Iran struck back against U.S.-allied Gulf states. Kuwait’s military said its air defenses were actively intercepting incoming drones and missiles. Bahrain’s Interior Ministry activated air raid sirens, urging residents to seek shelter.
Iran’s Revolutionary Guard claimed attacks on both countries; Qatar was also reported as a target. There were no immediate damage reports from any of the three countries.
The escalation follows U.S. President Donald Trump’s declaration at the NATO summit in Ankara that the ceasefire reached with Iran last month was "over," after Tehran resumed attacks on commercial tankers in the strait.
Speaking aboard Air Force One, Trump said Iran had subsequently reached out. "They want to make a deal so badly," he said, adding, "I just don’t know if they’re worthy of making a deal."