US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
ECB Rate Hike in Focus as Oil Tops $100 
UK Businesses Urge Government to Cut Electricity Levies 
China Inflation Accelerates in August as CPI, PPI Rise 
German Inflation Accelerates to 2.9% in August 
White House Weighs Refined Copper Tariffs as Cost Concerns Grow 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
US Treasury Yields Near 5% as Oil Fuels Inflation Fears 
Asian Currencies Subdued as Yen Weakens Ahead of Fed, BOJ Decisions 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Oil Prices Surge as Middle East Shipping Attacks Threaten Supply 
Global Central Banks Brace for More Rate Hikes as Inflation Risks Rise 
Treasury Buyback Fails to Cool Long-Term Yields 
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British stocks declined on Wednesday as escalating military tensions between the United States and Iran pushed oil prices higher and weakened investor appetite for risk across European markets.
The FTSE 100 fell 0.30% by 07:18 GMT, while Germany’s DAX dropped 0.22% and France’s CAC 40 declined 0.16%. Sterling also weakened 0.12% against the U.S. dollar to $1.3501.
European markets followed losses on Wall Street, where the S&P 500 fell 0.7% on Tuesday. Jefferies noted that 10-year U.S. Treasury yields climbed above 4.80%, adding pressure to risk assets.
Geopolitical concerns intensified after Iran’s Islamic Revolutionary Guard Corps said it targeted U.S. bases in the UAE with drones. Iran also claimed strikes against U.S. facilities in Erbil, Iraq, while Kuwait reported that a drone attack caused a residential fire in Kuwait City, with no casualties.
Meanwhile, the Sidr and Senegal Prosperity tankers were reportedly struck by projectiles in the Strait of Hormuz. ING analysts Warren Patterson and Ewa Manthey said the incidents, combined with additional U.S. strikes on Iranian targets, were adding a geopolitical risk premium to crude prices.
CENTCOM said Tuesday’s U.S. attacks targeted IRGC air-defense sites, radar systems, maritime assets and communications infrastructure. Iran said five people were killed and around 50 wounded at a wedding near Sirik, while another 11 deaths were reported following strikes in Khuzestan.
President Donald Trump warned Iran of a potentially devastating response and claimed the U.S. had “almost total control” of the Strait of Hormuz.
Brent crude rose 0.37% to $95 a barrel, while U.S. crude edged 0.06% higher to $90.27. Spot gold was little changed at $4,327.33 an ounce, while gold futures declined 0.52% to $4,374.09.
Among UK corporate developments, BP appointed Ian Tyler as chairman. Ryanair lowered its fiscal 2027 passenger target to 214 million from 216 million, citing elevated unhedged oil prices, and warned that short-haul airfares could rise.
