FTSE 100 Live: Aero and defence stocks lead decline as Trump's Iran deadline looms

• FTSE down 82 points at 10,354

• Oil and state prices stay elevated 

• Pres Trump acceptable a 1am GMT deadline for Iran deal

Investors look to beryllium betting connected a downturn successful defence and aerospace spending - that's 1 imaginable speechmaking of the information that Melrose Industries, Rolls-Royce and Babcock are the biggest fallers connected the FTSE, down betwixt 4% and 3%.

Melrose and Rolls some are much civilian airline-focused, portion Babcock mostly makes is wealth from the defence sector.

Housebuilders Barratt and Persimmon are besides among the bigger fallers, on with concern exporters Spirax and Hala, retail-focused M&S, 3i Group and Burberry.

At the different end, BP and Shell are among the blue-chip risers, which fig conscionable nether 20, topped by Games Workshop, Imperial Brands, Metlen Energy and Scottish Mortgage.

Brent crude lipid is continuing to oscillate astir $111 a tube arsenic it did astir this morning's open.

Market expert Axel Rudolph astatine IG says markets are "on edge" arsenic the timepiece ticks down to President Trump’s deadline for Iran to scope an statement connected the Strait of Hormuz.

Reports of explosions astatine Iran’s cardinal Kharg Island lipid hub and retaliatory drones and missiles fired astatine Israel and Saudi Arabia has "reverberated crossed fiscal markets".

The risk-off sentiment came "despite pockets of firm optimism", helium says, with comments by vice-president JD Vance saying that "very shortly, this warfare volition conclude".

Some of the absorbing broker notes today.

Investors should usage the existent marketplace weakness arsenic a buying opportunity, JP Morgan's equity strategy squad says, arguing that the economical backdrop underpinning the sell-off is not similar the damaging stagflationary situation of 2022 that inflicted prolonged losses crossed some equity and enslaved markets.

The cardinal representation entering the Iran struggle had been powerfully supportive, is the halfway view, with the slope not seeing stagflation arsenic the astir apt result successful the 2nd fractional of the year.

Focusing connected golden mining stocks, JPMorgan reckons the pullback has created a compelling buying opportunity.

Analysts reason the sector’s caller slump fits a acquainted market-shock signifier alternatively than signalling immoderate breakdown successful gold’s safe-haven case.

If the March consumer downturn persists, Next is among the champion placed retailers to upwind these conditions, RBC Capital Markets says.

Analysts pass that weaker players volition autumn further down arsenic spending tightens, arsenic shoppers go much terms delicate and selective, with Next identified arsenic a banal to bargain connected caller weakness.