FTSE closes down 134 points as oil rebounds; NS&I in turmoil - MARKETS CLOSE
The FTSE 100 tumbled as oil raced higher as hopes of a de-escalation in the Middle East faded once again.On another bleak day for investors, London's blue chip index closed down 134.67 points or 1.33 per cent at 9972.17.Crude topped $109 a barrel as Iran dismissed reports of direct talks with Iran. 'Investors look like they’re fed up with the hot and cold messages around Iran peace talks,' said Dan Coatsworth, head of markets at AJ Bell. 'Recent market optimism about a resolution in the Middle East is fading fast.'Elsewhere, NS&I may face a £400million compensation bill and Next's boss has warned on prices due to the Iran war. If you're reading on the This Is Money app, click here. Another tough day on financial marketsLabour is pushing up energy bills, says M&S'I always forget the last one': Minister's investment gaffeChancellor’s house is ‘built on sand’Those OECD forecasts in fullGrowth down and inflation up...OECD's bleak verdict on UK economyFTSE 100 crashes back below 10,000Consumer confidence 'collapses'
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FTSE closes down 134 points as oil rebounds; NS&I in turmoil - MARKETS CLOSE
