UK News
‘Grumpy’ Guardiola unclear about Bernardo Silva’s Manchester City future: football news – live | Football
Key events
Leeds midfielder Ao Tanaka played a key role in last week’s epic FA Cup semi-final win at West Ham, scoring the opening goal, and could be in line for a rare start in place of the injured Anton Stach in Monday night’s Premier League game at Manchester United.
Daniel Farke praised Tanaka’s “really good performances” of late and said: “I’m very happy with his development because Ao is not the youngest anymore and for him it’s his first season in a top flight.”
Tanaka is a fan favourite at Leeds fans, but has been self-critical of his own performances since helping the club win promotion last season. He hasn’t started in the league since 14 December.
“He has said publicly he’s not yet good enough for this level, but we’ve always believed in Ao,” Farke added. “He produced a really good performance [at West Ham] and proved against a Premier League side that he can play at the top level.
“For Ao there is no limit because he’s a top player. He’s done this in recent weeks and for that there will be more chances for him in the coming weeks to shine. If he produces performances like he did at West Ham then we are all happy.”
The lads and lasses on The Overlap have been asking who is the best centre-back partnership in Premier League history …
Lots of love for Rio Ferdinand and Nemanja Vidic, which would be my answer, closely followed by John Terry and Ricardo Carvalho. Jamie Carragher said Alan Hansen and Mark Lawrenson, perhaps forgetting that A) both retired before the Premier League began and B) their contrasting punditry careers.
Drop me an email with your favourite PL CB duo.
What a day of sport we have. The return of the Premier League tonight, county cricket back in full swing and the Masters day two. Lovely.
I’ve received an email from Krishnamoorthy:
“Having successfully completed the exits from Carabao and FA [Cups], and that the Champions league pursuit will probably be over by next week, what wizardry will Arsenal deploy this weekend to surrender the league?”
Despite those cup exits, I feel like Arsenal aren’t quite as weakened as their detractors may think/be hoping. Bournemouth at home this weekend ought to yield three points.
Want some more from Pep on Bernardo? He’s really waxed lyrical about the former Monaco man, despite having the grump with him …
All managers would say how much they love him because he is incredibly competitive, has a fire inside him always. In the toughest moments and on the biggest stages, he is always there.
He has been an incredible signing for us, incredible. I love this club and I would love if he could stay and finish his career here but I do not know. He will decide what he will decide.
He has been an incredible signing with the numbers, minutes, titles. I judge players when everything is difficult and he always steps up
‘Grumpy’ Guardiola asks Bernardo Silva to confirm City future
Pep Guardiola admitted he doesn’t know whether Bernardo Silva will be at Manchester City next season, after his assistant Pep Lijnders appeared to suggest the midfielder was leaving.
Guardiola was asked to clarify Bernardo’s future at today’s press conference, but said: “I don’t know.
“I am so grumpy with Bernardo. A month ago I said I had to be the first [he would tell] and he didn’t say anything to me yet. I do not know if he has already decided. I said jokingly to him to tell me, I deserve it, but he didn’t tell me. I do not know what is going on.
“He is really good in all departments. He plays a lot of games. Nine years we have been together and no injuries. He can play in different positions, he is so smart and reads every moment that the action and game requires. When you play a lot of games, it gives us a lot of trust and confidence how he is going to perform.”
Here’s Pep Guardiola on Manchester City’s hopes of chasing down Arsenal in the final weeks of the season:
Hopefully we can get a lot of points. The situation we are in in the Premier League, we need to get all of them otherwise it will not give us a chance to try until the end.
We need to get a lot of points. We have not been consistent enough in the season. We have dropped points that we should have taken which is why we are now in the position where we cannot do it differently.
We have to win every single game.
Bournemouth midfielder Tyler Adams is set to return from injury to feature against Arsenal in the Premier League tomorrow (Saturday).
The 27-year-old has missed Bournemouth’s last two matches as well as two USA international friendlies over the recent break with a quadriceps problem.
“I am feeling strong and ready to go,” Adam has told club media. Staying in Bournemouth over the international break to rehab “gave me a period of time to get stronger, get more fit and focus on the objectives with the boys here.” He added: “I’m feeling consistent, I’m feeling strong now and I think it’s just important to finish the season strong.”
Thanks Barry. As a follower of Manchester United, these three weeks without Premier League action have felt VERY long. Thank goodness it’s back.
It’s easy to forget Manchester City are still nine points off Arsenal, for all the talk of the Gunners wobbling. Guardiola’s men do have a game in hand, but they also have to travel to Chelsea on Sunday.
Pep Guardiola is due to speak to the press any minute now and Dominic Booth is here to tell you what the Manchester City head coach has to say for himself.
Bayern Munich: Lennart Karl has been ruled out of the return leg of his team’s Champions League quarter-final against Real Madrid with a hamstring injury. The 18-year-old rising star was an unused substitute in the first leg but will now be sidelined indefinitely.
Scottish Premiership: With six games of the season remaining, Hearts remain a point clear of Rangers at the top of the table but the gap is closing with each passing week. At a time when every match is important, Hearts face another tough assignment when they host Motherwell tomorrow, ahead of an Edinburgh derby at Hibernian followed by a home match against Rangers.
Derek McInnes says Motherwell have been a “breath of fresh air” in the Scottish Premiership this season, echoing the sentiments of many who have praised Jens Berthel Askou’s side. Going into the final pre-split game of the season at Tynecastle on Saturday, they sit in fourth place, 10 points behind Celtic, albeit without a win in their last four matches.
Motherwell are the only side Hearts have failed to beat this season following a thrilling 3-3 draw at Tynecastle in August and a goalless stalemate at Fir Park in November. “I think they’ve been a breath of fresh air and the manager’s done a brilliant job,” said Mcinnes. “The players are responding brilliantly to him. Motherwell are playing with a lot of confidence and you see that in their game, and they’ve had a brilliant season.
“I know they’ve hit a wee sticky spell at the minute, but it’s not going to take away from a lot of the good work that they’ve done. I did say ahead of the game last week that certain teams are probably punching above their weight and kind of getting a bit more than maybe what was expected, and Motherwell is one of them. Very few people have not commented on how good they’ve been this season and you can understand why.” [PA Sport]
EFL Trophy final: Jack Wilshere’s promotion-chasing Luton Town take on Stockport in Sunday’s Vertu Trophy final with renewed momentum, writes Simon Burnton.
Brighton: Scott Parker’s side are 10 points from safety with seven games to remaining and while few people give them much chance of avoiding the drop, Fabian Hurzeler has said Brighton will not be taking them lightly.
“Burnley is a team fighting relegation but they proved in the last weeks that they can win against every team in the league,” he said. “They have individual qualities. They show really good togetherness. That they showed, especially in the last games, really good performances so you can’t underestimate any team in this league. It is a game where we have to reach our limits, our standards, our highest levels if you want to beat them.”
It sounds to me like Hurzeler might be confusing tomorrow’s opponents with some other club because since the end of October, the only Premier League team Burnley have proved they can beat is Crystal Palace.

Tom Garry
Women’s football: Sue Day, the FA’s director of women’s football, has said their proposed changes to the structure of the women’s leagues are “vital to securing the long-term success of women’s football”, as she defends the plan which would include adding four WSL academy teams to the third tier.
“The purpose of these proposals is to futureproof the women’s game,” Day said. “We are approaching a crucial turning point. Too many talented young players are not getting the opportunities they need to develop, and without action, that risks holding back the future of the sport.
“No decisions have been made at this stage, and consultation is ongoing. We would not be putting these proposals forward unless we believed they are vital to securing the long-term success of women’s football.”
The Guardian exclusively revealed the plans on Tuesday and there has been a mixed reaction, including some heavy criticism from third-tier coaching staff.
Tottenham Hotspur: Ahead of Roberto De Zerbi’s first press conference as head coach scheduled for 1.30pm (GMT), Chris Pauros writes that the Italian’s apology for past comments about his former player, Mason Greenwood, was important but insufficient and adds that if we want things to change in football, we need some accountability. Read on …
Brighton: Fabian Hurzeler’s side return to action against Burnley at Turf Moor tomorrow, having won four (and lost one) of their last five Premier League games before the international break. Brighton currently sit 10th in the table, six points off the final Champions League spot. Following the corresponding international break last season, Hurzeler’s team took just one point from their next four games before winning four and drawing one of their final four.
“I think after a very successful period before the international break and during the international break,” the German told reporters this morning. “Our players were quite successful and that is a very positive thing so they kept the positivity, they kept the confidence and belief.
“Now it is about when they return from their national teams. They come together as a group again, re-emphasising what made us strong, what we need to get back to the standards we reached before the international break. Re-emphasise what it means to play for the badge.”
Hurzeler will be forced to sit out Brighton’s match against Burnley on the Naughty Step, where he will be accompanied by his captain, Lewis Dunk. “We have a other leaders who can solve it on the pitch and beside the pitch,” he told reporters. “Regarding me, we already had a situation against Brentford where my team and my staff did an incredible job.
“Regarding Lewis, of course he played unbelievably well in the last weeks but we have shown we have a lot of options to replace him. Not just options, really good options to replace him. Therefore, we are quite confident that the team are strong enough to handle these things.”
Dunk will miss Brighton’s next two games after picking up his tenth booking of the season, while Jack Hinshelwood is available for selection after recovering from a knee problem that prevented him from joining up with England U-21s.
Newcastle United: Having missed Newcastle’s last 11 matches with a hamstring injury, Bruno Guimaraes is likely to sit out their next two through illness. The Brazilian returned from international duty with mumps and Eddie Howe says he is defintiiely next weekend’s game against Bournemouth too. Fabian Schar remains sidelined having had minor surgery on an infection in his foot, while Lewis Miley is back in training after recovering from an injury that has kept him out since January.
Newcastle United: During an Eddie Howe press conference covering all manner of topics, the subject of Kieran Trippier’s imminent departure from Newcastle was addressed by the head coach who signed him four-and-a-half years ago.
“I think Kieran has handled himself superbly during this period,” said Howe. “He came to see me, we had a discussion. He had a clear vision of what he saw his future looking like and we respected that and wanted him to get the best reception and reaction for his time here.
“For me he goes down as one of the best players that’s played for me, without a doubt. In my time here he has been a model of consistency. He has had that will to win and will to help us prepare the best we can. I think he has been outstanding on the pitch. He has been a really good leader and he deserves to go with all the plaudits. We just hope he can finish the season off on a real high.”
West Ham: Victory over Wolves tonight will lift West Ham out of the bottom three for a couple of days at least and ahead of this crucial fixture, Jarrod Bowen has said it pains him to see his club in trouble. Helping them extricate themselves from their current predicament would “mean the world” to him.
“This club means so much to me,” he said in an interview with Sky Sports. “In the situation that we’re in, it hurts me probably more than anyone else. What I’m trying to do is bring my A-game every single week and also get the team ready to bring their A-game. We know what we have to do in terms of steering away from relegation. We have a massive opportunity to do that.
“We have to keep doing that. Of course you want to score, you want to get assists, you want to be the difference. But also your team-mates as well, they’re so important. They need to keep stepping up like they have been. We all need to keep stepping up and keep changing our destiny and changing our fortunes and win the games that we have. Then we can almost take control of the situation that we’re in. We know what we need to do, so that’s the most important thing.”
Bayern Munich: Vincent Kompany turns 40 today but the Bayern head coach gave extremely short shrift to talk of birthday celebrations during his press conference this morning. Bayern Munich took a 2-1 lead over Real Madrid in their Champions League quarter-final first leg this week and travel to Hamburg to play struggling St Pauli tomorrow with a nine-point lead at the top of the Bundesliga table. They are also in the semi-finals of the German Cup.
“We can only wish for the three points [against St Pauli],” he told reporters who asked if he’d be swinging from the chandeliers tonight. “I always celebrated birthdays at the stage of semi-finals and quarter-finals so it’s a bonus if you get the wins at these moments.
“I am trying to run away from all the birthday stuff. We are in priority mode. At this moment there are enough emotions in the coming days. Maybe some red wine tonight but first prepare for the match.” [Reuters]
Newcastle United: The first signing Newcastle made under their new Saudi owners, Kieran Trippier has confirmed he will be leaving the club this summer when his contract expires. Rumours also abound that Bruno Guimaraes, Sandro Tonali and Anthony Gordon could be sold come season’s end. While Howe refused to discuss the future of individual players, he did speak out on the importance of Newcastle managing their fans’ expectations.
“If that’s the reality – and I’m not saying it is – then that’s the reality,” he told reporters. “I’ve no issue working with the conditions the club set and finances dictate. I’ve never had an issue with that all through my career.
“As long as that is made clear to everybody on the outside and the expectations are aligned within that. Because I don’t think you can have expectations that warp reality. Everything has got to be aligned for the players to enter the pitch and play in their best place, where they’re relaxed and not under undue pressure. That’s fundamentally important.”
Howe rejects speculation of Newcastle fall-out
Newcastle United: Newcastle travel to Crystal Palace on Sunday to play their first match since losing the Tyne-Wear derby at home to Sunderland just before the international break. With no shortage of speculation surrounding his own future at the club and the potential summer exit of several key players, Eddie Howe wasn’t short of things to talk about this morning.
“Certainly there’s been no fallings out,” he said, when asked about his relationship with Newcastle sporting director Ross Wilson and the club CEO David Hopkinson. “I’ve got a really good relationship with Ross and David. We’re plotting to try and take the club forward in the smartest way possible. I’ve had really good support from both of them, who are the key figures I work with day-to-day at the football club. We’re all totally aligned on what we need to do.
“The long-term prospects for the football club are really strong but certainly these seasons we’ve experienced previously. Not all the forces are with us and we’re going to have to act really smart and try to outperform the budget to try to hit the levels everyone wants.
“What do I need? I just need support. Good working relationships with people around me and a feeling of being able to express myself in the best way possible so you see the best version of myself. And I think if I feel that and the club feels that then they’re getting the best manager they can from me.
“Obviously if that’s not working for whatever reason on both sides then it’s best for the football club. The most important thing in all of this is Newcastle United, not me, not anybody else. I’ll always reflect that in my decision making: I’ll put the club before anybody.”
Liverpool: Arne Slot has told reporters that Alisson is still sidelined but Liverpool fans are unlikely to be too concerned given how well Giorgi Marmadashvili has played in the Brazilian’s absence. Slot also said that some players who started against PSG will be rotated out of the side to face Fulham tommorrow because they cannot currently handle the intensity of playing two big games in four days. “The players I’m worried about for tomorrow will be Jeremie Frimpong and Joe Gomez,” he said.
Aston Villa: Despite the looming World Cup and this season still being very much up in the air for both sides, Bayern Munich have just announced they will be playing Aston Villa in a pre-season friendly in Hong Kong on 7 August.
For their part, Villa say they “hope to announce further fixtures in the far east in due course”. Whatever the outcome on the pitch in Hong Kong, you have to say the Bayern Munich club secretary has stolen a march on his or her Villa counterpart early doors. That’s clichéd German efficiency at its finest.
Arne Slot on Andy Robertson: “First of all, he’s had many great seasons here not only as a player but as a great person as well,” he says of the Scotsman, whose departure from Liverpool at the end of the season was announced yesterday. “I got to know him as a great person. Every team-mate of his will tell you how funny he is, how great he is and I think that’s been shown on social media as well.
“But what I remember most about him is the intensity he plays with and we’ve seen and learned something about intensity two days ago but, I can also remember Robbo making a press from the left-back position to the right wing a few years ago and I showed it to my players I was working with back then.
“He’s won everything at this club, served his club and really loves this club. It’s been a great nine years for him. This season he didn’t play as much as he was used to and as a result of that he’s leaving.”
A tip of the hat to Slot for highlighting the fact that Robertson is a terrific character and all round good guy as well as a consumate professional. He seems to be universally liked and one imagines his is a presence that would be sorely missed from any dressing-room. He’s been an outstanding servant for Liverpool over the best part of a decade, even if quite a few people were sceptical about his credentials when he was signed from Hull City. Jurgen knew!
Arne Slot: ‘I feel the support from the fans’
Liverpool: The postponement of their Ligue1 match against Lens means Paris Saint-Germain have been given the weekend off ahead of their Champions League quarter-final second leg at Anfield on Tuesday, but Liverpool have a crucial match against Fulham to play at Anfield tomorrow evening.
Arne Slot’s side go into it on the back of two chastening defeats and are fifth in the Premier League table. Should either Everton or Brentford win their Champions League qualification six-pointer at the Gtech Community Stadium tomorrow afternoon, they will go level on points with Liverpool.
“I’m repeating myself a lot but I feel a lot of support,” said Arne Slot this morning, upon being asked if he feels he has the backing of the Liverpool club hierarchy. “Not only from the owners but from Richard [Hughes] and Michael [Edwards], a lot of support from them as well. As weird as it might sound I also feel the support from the fans.
“We were going out in Paris when the players went out for the warm-up and after the 4-0 loss [against Manchester City] the fans immediately started singing ‘we love Liverpool’. I think it’s fair to say we were outplayed for 90 minutes and they were still singing and clapping for us. I’ve said many times, the club knows the period of time we’re in and in the mean time I feel complete support.”]
Column: While his “big team who win things” (well, the odd thing) are hovering above the Premier League relegation zone, his small team who never win anything have just dropped out of the League Two automatic promotion places. It’s small wonder the Guardian’s Football Weekly presenter Max Rushden is a bag of nerves …
Tottenham Hotspur: While he has already been interviewed by the club media team, Roberto De Zerbi’s maiden press conference as Spurs head coach is likely to be today’s hottest ticket in town. The Italian is scheduled to speak to the media at 1.30pm (GMT), ahead of his side’s match against Sunderland on Sunday afternoon. If West Ham beat the Premier League’s bottom side, Wolves, at the London Stadium tonight, Spurs will be in the relegation zone when their game kicks off at the Stadium of Light.
Andy Robertson to leave Liverpool after nine years
Liverpool: The Scottish left-back is to bring his illustrious career with the club to a close when his contract expires at the end of the season, with no shortage of big name European heavyweights believed to be interested in securing the 32-year-old’s services. Andy Hunter reports …
Crystal Palace 3-0 Fiorentina
Europa Conference League quarter-final first leg: A sensational performance blew away Fiorentina as Jean-Philippe Mateta scored on his first start since the end of January. Ed Aarons reports from Selhurst Park …
Bologna 1-3 Aston Villa
Europea League quarter-final first leg: Aston Villa were second best for large parts of the game in Bologna but a brace from Ollie Watkins put them in the box-seat. Paul MacInnes reports from Stadio Renata Dall’Ara …
FC Porto 1-1 Nottingham Forest
Europa League quarter-final first leg: A freakish own goal by the Porto defender Martim Fernandes earned Nottingham Forest a draw and fostered optimism of advancing to the Europa League semi-finals. Ben Fisher reports from Estádio do Dragão …
Friday football blog …
Following a hiatus so long some Tottenham fans may have forgotten their team is in grave danger of relegation, the Premier League is back. In the build-up to a weekend schedule that kicks off when West Ham host fellow basement-dwellers Wolves at the London Stadium tonight, we’ll bring you all the news that’s fit to print from today’s round of managerial press conferences. In the time honoured tradition, we’ll also be keeping a beady eye on any tidbits of note from the EFL, Scotland and beyond. You know the drill …
UK News
European stock markets hit record high and oil price falls to three-month low after US-Iran peace deal – business live | Business
European stock markets hit record high
European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.
The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.
Mining and travel companies are driving the rally, while oil company shares are sliding.
That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:
The move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.
Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.
There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.
Key events
Peace deal should keep mortgage rates down
Mortgage borrowers can breathe a sigh of relief at the news of a peace deal in Iran, says Adam French, head of consumer finance at Moneyfactscompare.co.uk.
While we are far from being out of the woods yet, a lasting peace deal should dramatically reduce the risk of the Bank of England’s worst-case scenario for inflation and interest rates becoming a reality.
“Under that scenario, Base Rate could have risen to 5.25%, potentially pushing typical rates on new mortgages towards 6.75%. Instead, today’s news means mortgages rates, which have already been slowly falling for several weeks, have likely already passed their peak – at least until the next unwelcome crisis.
“Borrowers can be optimistic but with a word of caution, as inflation and economic data will continue to influence the outlook. However, a lasting peace should remove one of the biggest risks to mortgage costs and may help restore a more stable environment for hard-pressed remortgage borrowers and prospective buyers.”
Even before this morning’s drop in UK bond yields (see earlier post), average mortgage rates have dipped slightly.
Moneyfacts reports:
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The average 2-year fixed residential mortgage rate today is 5.61%. This is down from 5.62% the previous working day.
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The average 5-year fixed residential mortgage rate today is 5.58%. This is down from 5.59% the previous working day.
Why it may take months for oil flows to return to normal
Donald Trump excitedly declared: “Ships of the World, start your engines. Let the oil flow!” last night, but the reality is that it will take some time for oil flows through the strait of Hormuz to return to pre-war levels.
One reason is that many oil tankers are simply in the wrong place, after the long closure of the strait.
Another is that some production and refining facilities have been damaged by the conflict, while others were mothballed after storate facilities filled up to the brim.
A third factor is that insurers could still be wary of the conflict reigniting, and price their cover accordingly.
Neil Shearing, group chief economist at Capital Economics, explains:
Even if ships now have safe passage, tankers are in the wrong place, oil production/refining facilities need to get up to full capacity, and questions over the cost and availability of insurance for ships traversing the Strait will remain.
Our current working assumption is that ~80% of energy flows will resume by the end of Q3. Natural gas flows will be slower to return, following the damage to Qatari facilities earlier in the conflict, which according to local officials has put 17% of production offline for two to three years.
US crude drops below $80
US crude oil has dropped to its lowest level since the second week of the Iran war.
The cost of a barrel of West Texas Intermediate (WTI) light sweet crude has dropped by 6% today to $79.72 per barrel, the first time since 10 March that it has been under $80/barrel.
That could help to pull down US gasoline prices, which climbed after the conflict began, hitting consumer confidence.
UK bond yields fall
Today’s relief rally is also driving up government bond prices, pushing down the cost of borrowing.
The yield (or interest rate) on 10-year UK government debt has dropped by 6.5 basis points (0.065 of a percentage point) to 4.775%.
Two-year bond yields are down 8bps to 4.16%.
Lower bond yields indicate that that the cost of issuing new government debt has fallen, which will be a relief for the UK Treasury after the Iran war drove up borrowing costs.
Copper mining company Antofagasta is now the top riser on the FTSE 100, up almost 8%.
Trader will be concluding that an end to the Iran war will boost the world economy, leading to more demand for raw materials such as copper.
European stock markets hit record high
European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.
The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.
Mining and travel companies are driving the rally, while oil company shares are sliding.
That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:
The move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.
Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.
There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.
BP and Shell’s shares slide
Shares in oil companies are falling, though – BP and Shell are both down 3.7%, as investors anticipate an end to their earnngs boost from the Iran war.
FTSE 100 index hits eight-week high
Boom! Britain’s stock market has hit a near-two month high at the start of trading, as investors welcome the breakthrough between the US and Iran to end the Middle East conflict.
The FTSE 100 blue-chip share index has jumped by 99 points, or almost 1%, at the start of trading to 10,570 points, its highest level since 21 April.
Engineering firm Rolls-Royce, which makes and services jet engines, is the top riser on the FTSE 100, up 5.5%, followed by British Airways parent company IAG, up 4.8%.
UK house prices dip in June

Gwyn Topham
Two bits of good news for Britons who don’t own their homes have been revealed, with data showing a drop in house prices in June as well as fewer tenants facing rent hikes last month.
Figures from Rightmove showed the average price of property coming on the to market fell by 0.6% or £2,113 to £376,191, the biggest June fall in fourteen years, with prices 0.5% below this time in 2025. The biggest drops were seen in southern England and Wales, and in asking prices for flats rather than houses.
The property site said the number of homes for sale was still at historically high levels for summer, making it more of a buyer’s market. Mortgage affordability has also improved slightly this month, with the average two-year fixed rate deal dropping about 0.1 percentage points to 5.07%, it said.
Meanwhile, figures suggest that the introduction of the Renters Right Act may already be seeing results in terms of keeping rents down for tenants.
The new law came into force at the start of May and means landlords can only increase rents for sitting tenants once a year. According to Hamptons monthly lettings index, the number of tenants who saw their rent rise was down 23% from the same month last year. Hamptons said if the rest of the year saw similar change, it would expect only 31% of sitting tenants to face increases, compared to 40%-50% in previous years.
However, the agency warned that rent rises in Scotland, where landlords have been operating under a similar system for longer, exceeded the national average. Sitting tenants who faced rent rises had an average increase of 5.4% in May, but the figure reached 7.7% in Scotland, albeit for a lower absolute rent – £952 – than the Great Britain average of £1375.
Speaking of the ECB, their president Christine Lagarde has been warning that inflation pressures are spreading in the euro area.
In an intervew with broadcaster France Culture, Lagarde warned that high energy prices are starting to feed through to other parts of the economy, saying:
“Indirect effects of inflation, we have absolutely started to see that more or less everywhere in recent weeks.”
The US-Iran agreement is well-timed for the Bank of England, which is due to set UK interest rates on Thursday.
If the strait of Hormuz does reopen, and oil flows return towards pre-war levels, there will be less inflationary pressure – and thus less need for interest rate rises.
The European Central Bank raised its interest rates last week, but this week is the turn of the BoE, the US Federal Reserve and the Bank of Japan.
Kathleen Brooks, research director at XTB, says:
Over the past month, the price of oil is down by more than a fifth, and the Brent crude price is now back at levels from early March. This is good news for inflation, which should start tumbling monthly from June, and it could ease concerns about price pressures as we lead up to some major central bank action this week. The decline in the oil price also raises questions about whether the ECB was too hasty in raising rates last week.
European stock markets are on track to jump when trading begins, in just over 20 minutes.
Germany’s DAX share index is up 1.65% in the futures market, Reuters reports, with the UK’s FTSE 100 0.75% higher.
The US dollar is weakening, as investors shift into riskier currencies.
The pound is its highest in over a week, at $1.3438.
Markets rally across Asia
There are strong gains across Asia-Pacific markets today, as investors welcome the deal between the US and Iran.
Japan’s Nikkei share index has leapt by 5%, as has South Korea’s KOSPI, while China’s CSI300 index is 1.9% higher.
Jim Reid, market strategist at Deutsche Bank, says:
Whilst the deal is very good news for markets it looks like tough conversations will have occur in the 60-day window to ensure the peace is sustainable. As an example, the Senate needs to approve any extensive sanction relief for Iran.
For now the can kicking exercise has been very well received by markets even after a strong US close on Friday where hopes were raised of a weekend signing
Introduction: Oil falls to three-month low
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.
The peace deal agreed between Iran and the US is sending a wave of relief through the markets today.
Oil has tumbled 4%, and markets across the Asia-Pacific region have jumped, as investors anticipate the reopening of the strait of Hormuz.
Although it is unclear exactly what has been agreed – with the final text of their memorandum of understanding unpublished – Donald Trump’s claim that “oil will flow on both ends again for the region, and the world” is pushing down energy prices – a relief for busineses, consumers, politicians and central bankers alike.
Brent crude has fallen as low as $83.04, its lowest since 10 March, after the prime minister of Pakistan announced the US and Iran will sign a memorandum of understanding in Switzerland on Friday.
That still leaves Brent above its pre-war price of $72.48 a barrel, though.
Trump has indicated that the opening of the strait is contingent upon the signing of the peace deal, scheduled for Friday.
Iran’s Mehr state news, though, reported that the agreed memorandum of understanding calls for the reopening of the strait within 30 days under “Iranian arrangements” – an indication that Tehran hasn’t surrendered its control of the waterway.
Chris Weston of IG points out that there are still obstacles to overcome:
The probable reopening of the Strait of Hormuz later this week would represent a significant positive development. Markets had increasingly questioned how long inventory draws could offset supply disruptions and whether physical dislocations would begin weighing more heavily on risk assets. The focus now shifts towards understanding what normalisation of logistics could realistically look like, and how quickly shipping volumes can return to pre-conflict levels of 120 to 140 commercial vessels transiting eastbound and westbound each day.
There are still obstacles to overcome. Mines may need to be cleared, and there may be structural damage to refineries and export facilities around the region that will take time to repair and come back to pre-conflict capacity.
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Roy Hattersley, former Labour deputy leader, dies aged 93
Paying tribute, Sir Keir Starmer said Lord Hattersley “was a giant of the Labour movement”.
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A £350 swimming pool fee ruined our easyJet holiday | Consumer rights
My partner and I paid £2,150 for a week’s all-inclusive break in Marrakech with easyJet Holidays.
We chose the Jaal Riad Resort Hotel because of its pool and spa. When we arrived, we were told that use of the heated pool cost £24 a person an hour, the Jacuzzi £24 for 20 minutes, and the hammam was £16 for 20 minutes.
Nowhere were these extra fees listed when booking. EasyJet Holidays rejected my complaint and referred me to a line buried at the bottom of the list of facilities that said charges may apply. We were planning on using the pool regularly but could not afford it. If we had known, we would have booked elsewhere.
DP, Cambridgeshire
Hidden charges can hugely inflate the cost of holidays. Resort fees are the most pernicious – some hotels charge up to £50 a person a day for facilities whether or not they are used.
Then there’s the daily tourist tax levied via the accommodation provider during the stay in some countries, and ancillary fees for upgraded wifi for sun loungers.
EasyJet Holidays makes a big deal of the pool – it’s a prominent photo on the webpage for the hotel.
No asterisk refers potential bookers to the crucial caveat that a couple, wishing to avail themselves once a day during a week’s stay, would have to pay almost £350 extra.
Even the eagle-eyed who alighted on the paragraph of small print at the bottom of the page, would be none the wiser.
Only after declaring that the facilities are subject to height and weight restrictions, seasonal availability, opening times, and age and dress code, does it mention that they “may” attract additional charges. These are not listed.
This is potentially unlawful, according to consumer lawyer Gary Rycroft.
“The facilities were prominently marketed as part of the holiday experience, and extra charges were not clearly disclosed before purchase,” he says. “Under the Digital Markets, Competition and Consumers (DMCC) Act 2024, businesses must not omit material information that would influence a consumer’s decision about whether to enter into a contract.”
EasyJet is defensive. “We always strive to make it clear that use of hotel facilities may incur additional charges,” it told me.
The company said then that it was reviewing the description to “further highlight that the use of the spa facilities is chargeable”, although, at the time of writing, three weeks later, the webpage remained unchanged. It has also now offered a £500 goodwill payment.
As the holiday season begins, you need to read the small print to avoid nasty surprises.
We welcome letters but cannot answer individually. Email us at consumer.champions@theguardian.com or write to Consumer Champions, Money, the Guardian, 90 York Way, London N1 9GU. Please include a daytime phone number. Submission and publication of all letters is subject to our terms and conditions.
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