Despite lingering concerns about tensions in the Middle East, the UK stock market moved firmly higher Thursday morning, riding on gains in mining and financial sectors.
Iran today announced the closure of the Strait of Hormuz, one of the world's most important oil transit routes, after a fresh round of US military strikes intensified tensions in the Middle East. The announcement follows a second consecutive night of attacks by the U.S. on Iranian military targets.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.