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Middle East crisis live: US launches rescue mission as official says Iran has shot down fighter jet | US-Israel war on Iran

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Iran shot down a US fighter jet

A search is under way for the crew of a US fighter jet that was shot down by Iran, a person familiar with the matter has confirmed.

As we reported earlier, Iran claimed that it had shot down a US fighter jet, with state media reporting it was an F-35 warplane.

The fate of the crew remains unclear.

It follows reports by Iranian state media that the US military is searching for an American pilot of a downed aircraft in Iran, following earlier reports that Tehran had shot down a US F-35 fighter jet.

Iran’s semi-official Tasnim news agency claimed that the US military is searching for a pilot “of a fighter jet that was attacked by the Iranian armed forces this morning”. In an earlier report, it published photos purporting to show the wreckage of a downed US aircraft, although it appears to be an F-15E Strike Eagle based out of RAF Lakenheath.

Peter Layton, a visiting fellow at the Griffith Asia Institute in Australia, told NBC News: “I think the structure looks like an F-15 and from the tail flash stripe markings from the 48th Fighter Wing, based at RAF Lakenheath in the United Kingdom.”

US officials have not publicly commented on the claims.

The Associated Press news agency reported that a channel affiliated with Iranian state television broadcast news of the pilot. The channel is in Kohkilouyeh and Boyer-Ahmad province, a rural and mountainous region that spans over 15,500 sq km (5,900 sq miles).

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Reuters news agency has also reported that a search is under way for the crew of a US fighter jet shot down over Iran, citing US officials.

We will bring you more updates as we get it.

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Man who suffered 'racially-motivated' attack says he regrets moving to NI

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The man said his home has been targeted three times in the last five months.



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European stock markets hit record high and oil price falls to three-month low after US-Iran peace deal – business live | Business

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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:

double quotation markThe 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.

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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.

double quotation markWhile 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:

  • The average 2-year fixed residential mortgage rate today is 5.61%. This is down from 5.62% the previous working day.

  • The average 5-year fixed residential mortgage rate today is 5.58%. This is down from 5.59% the previous working day.

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Roy Hattersley, former Labour deputy leader, dies aged 93

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Paying tribute, Sir Keir Starmer said Lord Hattersley “was a giant of the Labour movement”.



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