(RTTNews) - UK stock market's benchmark index FTSE 100 tumbled on Tuesday, weighed down by disappointing earnings from HSBC Holdings and escalating tensions in the Middle East as U.S. and Iran indulge in attacks around the Strait of Hormuz.
Iran's parliament speaker said today that US actions were endangering shipping and energy transit in the Strait of Hormuz. "Shipping and energy transit security have been endangered by the United States and its allies through breaching the ceasefire and imposing a blockade," Mohammad Bagher Ghalibaf said in a post on X.
He said a "new equation" was taking shape in the strategic waterway, and added: "We know well that the continuation of the status quo is unbearable for America, while we have not even started yet."
The FTSE 100 was down 125.34 points or 1.2% at 10,238.59 about a quarter past noon.
HSBC Holdings fell more than 5.5%. In the first quarter, the lender's profit before tax was $9.38 billion, lower than $9.48 billion last year, reflecting higher expected credit losses and other credit impairment charges, among others.
Llodys Banking Group and Standard Chartered both shed about 2.7%. Natwest Group and Barclays are down 1.2% and 1.1%, respectively.
Weir Group, Fresnillo, Entain, Haleon, Intercontinental Hotels Group, Legal & General, Unilever, Metlen Energy & Metals, Reckitt Benckiser, Marks & Spencer, GSK and Coca-Cola Europacific Partners fell 2%-4%.
Intertek Group moved up nearly 7%. BT Group gained about 3.7%, while Spirax Group, BAE Systems and Polar Capital Technology Trust gained 2%-2.1%.
United Utilities, Compass Group, The Sage Group, Pearson, IG Group, Babcock International, Airtel Africa and St. James's Place also moved notably higher.
Data released by the Society of Motor Manufacturers and Traders Limited (SMMT) showed UK new car sales rose by 24% year-over-year in April 2026, reaching 149,247 registrations, reflecting a rebound from a weak April 2025.
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