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UK hit by record rise in fuel prices as Iran war bites; Trump sends European stock markets sliding – business live | Business
European stock markets fall as investors price in ‘economic catastrophe’
Stock markets are falling across Europe, as investors react to Donald Trump’s special address last night, in which he vowed to send Iran “back to the stone ages”.
Frankfurt’s stock market has started the day with a bump; Germany’s DAX share index is down 1.5%.
France’s CAC 40 has dropped by 1.35%, and Italy’s FTSE Mib is down 1.2%.
London’s FTSE 100 index is showing a smaller fall – now down 0.6%, as oil company shares rally.
Chris Beauchamp, chief analyst at IG, says markets are now anticipating longer delays to oil supplies from the Gulf, as Trump didn’t provide guidance for how the conflict may end.
“In what might be the most dramatic April Fools’ of recent years, Donald Trump did nothing of what was expected in his speech. Instead of ‘no more war’, we got ‘no, more war!’, with heavier strikes expected and a fresh warning of attacks on power plants.
This leaves markets back where they were last week, and now we have to price in hundreds of millions of barrels of oil that aren’t coming out any time soon. The gloomy predictions of last week would have been perhaps misplaced if Trump had signalled a quick end, but now markets are back to pricing in economic catastrophe.”
Key events
UK gas prices rise too
UK gas prices have risen this morning, as traders anticipate further disruption to supplies from the Middle East.
The month-ahead UK wholesale gas contract is up 3.5% at 124.6p a therm.
Before the Iran war began, this contract was trading around 77p a therm. However, it’s still below its recent peak of above 150p set last month.
Susannah Streeter, chief investment strategist at Wealth Club, says:
“High hopes have been replaced by fresh frissons of fear about the duration of the war with Iran after President Trump’s bellicose speech, which gave no indication the conflict was very close to ending. Instead, the military looks set to intensify attacks, which is likely to provoke retaliatory strikes by Iran and risks destabilising the region further.
The big concern will be about further damage to energy facilities across the Gulf. The repair work is already likely to take years, and further destruction is likely to keep oil and gas prices elevated for even longer. A barrel of Brent crude has jumped sharply, reflecting these worries, and is trading back up at $107 a barrel. European and UK gas futures have also jumped by more than 5% and are set to stay highly volatile. Around a fifth of global LNG supplies are usually transported through the Strait of Hormuz, but it remains largely impassable, and it’s becoming clear that there is going to be no easy exit from this war, with a lack of planning increasingly evident.
IEA, IMF and World Bank team up to tackle crisis
Overnight, three major institutions have warned that the Middle East crisis is hitting global supply chains, causing market volatility and threatening growth.
In a joint statement, the heads of the International Energy Agency, the International Monetary Fund, and World Bank Group said the impact of the war would be ‘substantial, global and highly asymmetric, disproportionately affecting energy importers’.
The IEA, IMF and World Bank are now going to create a coordination group to “navigate this crisis”.
This group will assess the severity of impacts across countries and regions, coordinate a response mechanism, and mobilize relevant stakeholders.
They warn:
The Middle East war has caused major disruptions to lives and livelihoods in the region and triggered one of the largest supply shortages in global energy market history.
The impact is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries. It is already transmitted through higher oil, gas and fertilizers prices, and is triggering concerns about food prices as well. Global supply chains—including of helium, phosphate, aluminum, and other commodities—are affected, as is tourism due to flight disruptions at key Gulf hubs.
The resulting market volatility, weakening of currencies in emerging economies, and concerns about inflation expectations raise the prospect of tighter monetary stances and weaker growth.
This chart from estate agency Knight Frank shows how the markets are broadly pricing in two rate rises from the Bank of England this year.
They add:
For now, the outlook in the Middle East remains confused. Financial markets this week were tentatively factoring in a US withdrawal from the region, irrespective of whether it has re-opened the Strait of Hormuz.
Donald Trump’s television address on Wednesday didn’t confirm the withdrawal to the extent some had expected, but neither did he say anything particularly new.
City investors are now fully pricing in two increases in UK interest rates by December, due to the Middle East crisis.
The money markets are now indicating UK Bank rate will have risen to over 4.25% by the end of the year, implying two quarter-point increases in rates, up from 3.75% at present.
Yesterday the markets had only priced in around 44 basis points of increases, meaning two rises weren’t fully priced in.
UK gilt yields rise
UK government borrowing costs are on the rise again, amid the disappointment over Trump’s speech last night.
With bond prices falling, the yield (or interest rate) on UK gilts is going up again.
Ten-year gilt yields are up 4 basis points (0.04 percentage points) back to 4.886%.
Thirty-year gilt yields are up 3bps.
And two-year bond yields have risen by more – gaining 6bps to 4.36%, reflecting increased fears of an inflation spike from higher energy costs.
Trump speech had “opposite effect” to what investors hoped for
Global markets have taken a step backwards overnight after Donald Trump’s live address, with the mood shifting sharply from the cautious optimism that had been building in recent days.
So explains Matt Britzman, senior equity analyst at Hargreaves Lansdown, who adds:
From a market perspective at least, the speech appeared to have the opposite effect investors were hoping for, with oil pushing higher, bond yields climbing, and equity markets falling back. Rather than offering any fresh clues on a path toward de-escalation, Trump largely repeated a familiar set of talking points that traders have already digested across social media in recent weeks.
The result is a classic risk-off move across asset classes as hopes for further progress toward de-escalation gave way to renewed uncertainty. The FTSE 100 has opened lower, US futures suggest an unwind of yesterday’s optimism, and rate hike expectations are back on the rise. For investors, this is another reminder of how sentiment can shift quickly, and of how hard it is to time entry and exit points. Being diversified and sticking to a longer-term plan is a much more sensible strategy.
Oil markets are higher once more, with Brent and [US] crude now back above $100, as traders began pricing in the growing risk of disruption to energy infrastructure across the Gulf, amid lingering uncertainty around key shipping routes like the Strait of Hormuz. Comments suggesting military operations in the region could extend for several more weeks have dampened hopes of a near-term resolution, adding a fresh geopolitical risk premium to oil prices. That’s come despite a sizeable 5.5 million barrel build in US crude inventories last week, which would typically have weighed on prices but has instead been brushed aside in the current environment.
European stock markets fall as investors price in ‘economic catastrophe’
Stock markets are falling across Europe, as investors react to Donald Trump’s special address last night, in which he vowed to send Iran “back to the stone ages”.
Frankfurt’s stock market has started the day with a bump; Germany’s DAX share index is down 1.5%.
France’s CAC 40 has dropped by 1.35%, and Italy’s FTSE Mib is down 1.2%.
London’s FTSE 100 index is showing a smaller fall – now down 0.6%, as oil company shares rally.
Chris Beauchamp, chief analyst at IG, says markets are now anticipating longer delays to oil supplies from the Gulf, as Trump didn’t provide guidance for how the conflict may end.
“In what might be the most dramatic April Fools’ of recent years, Donald Trump did nothing of what was expected in his speech. Instead of ‘no more war’, we got ‘no, more war!’, with heavier strikes expected and a fresh warning of attacks on power plants.
This leaves markets back where they were last week, and now we have to price in hundreds of millions of barrels of oil that aren’t coming out any time soon. The gloomy predictions of last week would have been perhaps misplaced if Trump had signalled a quick end, but now markets are back to pricing in economic catastrophe.”
Oil company shares rise
The UK stock market is being propped up by oil producers.
BP (+2.9%) and Shell (+2%) are leading the risers on the FTSE 100 share index, following the 6% jump in Brent crude prices this morning.
FTSE 100 falls as global sell-off reaches London
The London stock market has joined the global sell-off, as hopes of a quick end to the Middle East conflict fade.
The FTSE 100 index of blue-chip shares has dropped by 0.68%, or 70 points, at the open to trade around 10,297 points.
Yesterday, the ‘Footsie’ had jumped by 188 points, its best day in almost a year, but the optimism that pushed stocks higher has retreated after Donald Trump vowed to hit Iran ‘extremely hard’.
Precious metal miners Fresnillo (-5.7%) and Endeavour (-5.3%) are the top fallers on the FTSE 100, as traders react to a 3% drop in the gold price today.
They’re followed by housebuilder Barratt Redrow (-3.8%) and copper producer Antofagasta (-3.6%), who would both suffer weaker demand if the Iran conflict keeps interest rates high, hurting borrowers and global economic growth.
Jim Reid, market strategist at Deutsche Bank, says Trump’s primetime address has dented market optimism:
After rallying sharply over the previous two sessions, market sentiment has deteriorated overnight after Trump’s much anticipated address last night delivered little to nothing new on potential timelines or conditions for ending hostilities against Iran. The US President claimed that the operation against Iran was “very close” to completion but also said the US “will hit Iran extremely hard over the next 2-3 weeks”. Trump again raised the threat to hit Iran’s power plants if there is no negotiated deal and reiterated the view that shipping via the Strait of Hormuz was other countries’ problem. So while Trump sounded flexible on remaining war aims, for instance claiming that Iran is “no longer a threat”, there was no signal of the US seeking an imminent offramp out of the war.
In response, markets have reversed the continued positive momentum they’d seen yesterday amid rising hopes that an end to the conflict might be coming into view.
Oven Pride household goods group McBride raising prices to recover Iran war costs
UK cleaning products maker McBride is putting up its prices, to pass on increased costs from the Iran war.
McBride, which makes the Oven Pride, Clean n Fresh and Actiff cleaning ranges, told the City this morning it is implementing “temporary” price hikes to cover increased costs from the conflict.
McBride explained that its chemical and packaging suppliers have begin raising their prices to recover the cost of more expensive raw materials, and higher energy costs.
The first signs of possible shortages in supply chains around the world are beginning to emerge, it warns, adding:
As a result, the Group will see elevated input costs in April and expects further increases in the near future. Consequently, the Group has already informed all customers about temporary price adjustments, or surcharges to current pricing, to recover these higher, beyond our control, cost impacts from the Middle East conflict.
Clampdown on ‘subscription traps’ could help in cost of living squeeze
With mortgage rates and fuel costs climbing, Britons don’t also need to be wasting cash on unwanted subscriptions.
And new government plans, which aim to better protect consumers from “subscription traps”, could help.
The rules, which could come into force early next year, will ensure consumers receive reminders before their free or discounted trials end, or when contracts of 12 months or more automatically renew.
The changes will also make it easier to cancel subscriptions, and create a a new 14-day cooling-off period for when a free or discounted trial concludes, or when a contract renews for a year or longer.
Business minister Kate Dearden has said that the Government’s new rules for subscriptions will give consumers “more control of their hard-earned cash”.
Speaking to Times Radio, she said:
“I’ve heard from so many people the impacts that unwanted subscriptions or subscriptions that you weren’t aware of, the impact that can have on their finances.
“So we’re making sure that people have more control of their hard-earned cash, that you are more aware of the subscriptions that you signed up to.
“These new rules that we’re announcing today make sure that businesses have to inform you about when a free trial might come to an end.
“That’s right at any point, but especially during a cost of living crisis, when people might want to re-look at their subscriptions.”
Nervous investors are, again, taking shelter in the US dollar.
The dollar, a classic safe-haven asset, has gained almost 0.5% against a basket of major currencies today.
This move has pushed the pound down by almost a cent to $1.321, reversing yesterday’s gains.
Brent crude jumps 6% after Trump speech
Oil is pushing higher too.
Brent crude, the international benchmark, has leapt by over 6% this morning to $107.63 a barrel – yesterday, hopes of de-escalation in the Middle East had pushed it below the $100/barrel mark.
Our Middle East crisis blog is covering all the key events that may move the oil price further today:
Asia-Pacific markets fall after Trump speech
Asia-Pacific stock markets are a sea of red after Donald Trump dented hopes of an early end to the Iran war.
All the major stock markets in the region have fallen, after the US president used his primetime address overnight to vow to hit Iran “extremely hard” over the coming weeks.
Hopes of an imminent end to the conflict are fading today, as Trump declared:
“We’re going to hit them extremely hard over the next two to three weeks. We’re going to bring them back to the Stone Ages where they belong.”
Japan’s Nikkei index has fallen by 2.4%, while China’s CSI 300 index is 1.36% lower. South Korea’s KOSPI (which has been particularly sensitive to the crisis) has tumbled by 4.8%.
After a couple of days where markets have struck a decidedly more positive tone, a degree of caution has once again crept into proceedings overnight, says Michael Brown, senior research strategist at brokerage Pepperstone, adding:
President Trump’s ‘address to the nation’ hasn’t helped on this front, with market participants having wanted to hear a bit more than the President provided.
While Trump did note that the US is ‘nearing completion’ of its strategic objectives, and reiterated that those countries reliant on crude flows through Hormuz should be the ones to re-open it, Trump failed to give a definitive timeframe for ending the conflict, while also nothing that Iran will be hit ‘very hard’ over the next couple of weeks.
Record monthly petrol and diesel price increases in March
It’s not just mortgages that are going up, either.
UK petrol and diesel prices jumped by a record amount in March, as the oil supply shock caused by the Iran war quickly rippled to forecourts.
New data from the RAC shows that the average price of a litre of unleaded petrol rose by 20p from 132.83p on 1 March to 152.83p by the end of the month. That surpasses the previous all-time biggest monthly jump of 16.6p recorded in June 2022, following Russia’s invasion of Ukraine.
Diesel prices have risen even more sharply – up 40p in March to an average of 182.77p from 142.38p. That’s almost twice as large as the previous record rise of 22p recorded in March 2022.
RAC head of policy Simon Williams says March’s price rises were ‘unprecedented’, adding:
“The increases drivers have had to endure in March 2026 far exceed those seen in the early days of the war in Ukraine.
“While the monthly rise in a litre of petrol is bad enough, the jump in the cost of diesel is even harder to swallow at 40p a litre.
“With long-term RAC research showing eight-in-10 people are dependent on their vehicles, these costs must really be taking their toll on households as well as businesses.”
However, these record increases are in nominal terms; in real terms, prices rose by more during the oil shock of 1973, the RAC point out.
And despite these price rises, average fuel prices are still below the all-time highs of summer 2022 when petrol peaked at 191.5p per litre and diesel at 199.0p per litre.
Introduction: Iran war brings ‘biggest shock to the UK mortgage market since the mini-Budget’
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The UK is reeling from the biggest shock to its mortgage market since Liz Truss’s mini-budget in 2022, after the Iran war drove up borrowing costs.
New research from data provider Moneyfacts shows how the cost of fixed-rate mortgages has surged over the last month, making it harder for new borrowers to get onto the housing ladder – and meaning those remortgaging face a surge in repayments.
Here’s the details of how the lending environment has changed since the start of March:
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Mortgage deals rapidly repriced. Average two-year fixed rates jumped +100 bps in a month (4.84% to 5.84%), with five-year fixes up +79bps (4.96% to 5.75%), marking the sharpest rise since autumn 2022.
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Product choice contracted. Mortgage availability has fallen by a net 1,283 products (17% of the market) in one month, the steepest contraction by market share since the mini-Budget disruption.
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Shock for remortgage borrowers. Those rolling off older five-year deals are hardest hit, with rates up 300+ bps and repayments rising by £417–£444 per month (£5k+ annually).
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Affordability deteriorated quickly. Typical borrowers now face £150 extra per month (+£1,777 annually) on a £250k loan compared to costs at the start of the conflict, with higher LTV borrowers seeing increases of up to £167 per month.
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Lowest rates moved sharply higher. The cheapest 60% LTV two-year fixed rate has risen +109bps (3.51% to 4.60%), as the most competitive deals have been quickly repriced in response to rising funding costs.
Adam French, head of consumer finance at Moneyfacts, says it adds up too the biggest shock since the aftermath of the mini-Budget three and a half years ago.
French explains:
“Average mortgage rates have risen at pace, with two-year fixes increasing by 100 basis points from 4.84% to 5.84% in just one month and five-year fixes up by nearly 80 basis points, from 4.96% to 5.75%. The cheapest deals available to borrowers have moved dramatically too, the lowest two-year fixed rate at 60% LTV has increased by over 100 basis points from 3.51% to 4.60%. While this falls short of the extreme jumps seen in the aftermath of the mini-Budget, it is still a sharp and sudden shift that has materially worsened affordability in a very short space of time.
“For many borrowers, the cost could be significant. Someone taking out a typical two-year fix will find it costs £150 more per month on average compared to just a few weeks ago. However, the real payment shock will be felt by those coming off older five-year deals, where rates have more than doubled, pushing up repayments by many hundreds of pounds per month.
“The combination of rising rates, reduced choice and heightened volatility means borrowers and brokers are operating in a market where timing is critical and the window to secure competitive deals can be very short-lived. Unfortunately, anyone looking to buy or remortgage this year needs to prepare for substantially higher borrowing costs than expected before this conflict began.”
The City money markets had been reducing their forecasts for how many times the Bank of England might raise interest rates this year to cool inflation, from three hikes to less than two, as of last night.
But, Donald Trump has now disappointed markets by declaring the month-long war in Iran a success which is “nearing completion”, but gave little clarity on how he planned to wind down the conflict over the next “two to three weeks”.
That has knocked Asia-Pacific markets, and pushed up the dollar and the oil price, as hopes of an early end to the conflict fade.
The agenda
UK News
Starmer says he is ‘fed up’ with Trump and Putin’s impact on UK energy costs | Politics
Keir Starmer has said he is “fed up” with the effect that Donald Trump’s actions in the Middle East are having on the British public, while appearing to draw a comparison between the US president to Vladimir Putin.
Speaking to ITV’s Robert Peston on Thursday, the prime minister said: “I’m fed up with the fact that families across the country see their bills go up and down on energy, businesses’ bills go up and down on energy because of the actions of Putin or Trump across the world.”
Starmer, who has been heavily criticised, and at times even mocked, by Trump for not committing British forces to the war on Iran, also appeared to condemn Benjamin Netanyahu for Israel’s continued strikes on Lebanon, despite Iran calling for Lebanon to be included in the ceasefire that was agreed on 7 April.
“That should stop – that’s my strong view – and therefore, the question isn’t a technical one of whether it’s a breach of the agreement or not,” Starmer said.
It came as Starmer and Trump spoke on Thursday about the need for a “practical plan” to get shipping going through the strait of Hormuz after the Middle East ceasefire.
A Downing Street spokesperson said: “The prime minister spoke to President Trump from Qatar this evening. “The prime minister set out his discussions with Gulf leaders and military planners in the region on the need to restore freedom of navigation in the strait of Hormuz, as well as the UK’s efforts to convene partners to agree a viable plan.
“They agreed that now there is a ceasefire in place and agreement to open the strait, we are at the next stage of finding a resolution. The leaders discussed the need for a practical plan to get shipping moving again as quickly as possible.”
Starmer also said that, while Britain did not have “access to all the details of the ceasefire”, he disagreed with the attacks on Lebanon, stating “let me be really clear about it – they’re wrong.”
Writing in the Guardian on Thursday, Starmer said he did not want Britain to be “a country where people are not at the mercy of events abroad”. He added that while the responses of previous governments to world events were to simply “manage the crisis, find a sticking plaster and then desperately try to reassert the status quo”, he promised that his government would do better, stating: “This time, it will be different. The war in Iran must now become a line in the sand, because how we emerge from this crisis will define all of us for a generation.”
The prime minister’s relationship with Britain’s allies has been noticeably strained since the US and Israel’s war with Iran began in late February, with Starmer and other European leaders being repeatedly chastised and belittled by Trump and other prominent members of his administration.
These have included sharing a video from the sketch show SNL UK in which Starmer is portrayed as being scared of Trump and trying to avoid his call, and stating that he is “no Winston Churchill” due to his perceived inaction in aiding the US.
Others on the receiving end of Trump’s ire include the French president, Emmanual Macron. Trump claimed Macron’s “wife treats him extremely badly” and even suggested that she hits him, claiming that Macron was “still recovering from the right to the jaw” when he spoke to him earlier in the month.
The Spanish prime minister, Pedro Sánchez, who has been outspoken in his disapproval of the war in Iran and the conflict in Gaza, has been one of Trump’s most vocal detractors. In response, the president has threatened to cut off all trade and suggested that if the US wanted to use Spain’s bases in the region, they would take them by force, stating: “If we want, we can just fly in and use it. Nobody is going to tell us not to use it.”
UK News
Grand National stats: Can trends find 2026 winner of Aintree race?
Official rating
Every horse in training is giving an official rating by the handicapper based on the level that they run to. Fourteen of the past 16 winners have been rated 146+, with 13 of those between 146 and 160. I Am Maximus and Nick Rockett were rated 159 and 163 going into the past two editions so a higher mark may be a positive.
Runs since September
In the first seven runnings this decade, five winners had run six times since September, with the others having five and three outings.
That trend has settled down in the past 10 years, with the average being four runs. Noble Yeats had seven before his 2022 run, while five had been in three races.
No winner in the past 25 editions has run fewer than three times that season.
Trainer location
An English trainer last won the race in 2015, with an Irish trainer winning seven of the nine since. Scot Lucinda Russell has had two winners, though she has no runners this year.
Breeding
Of the 24 hours to win the race this century, 18 were Irish-bred, four were French-bred and two British-bred.
Finish last time out
Of the past 25 winners, 11 have finished in the top two of their previous run.
Six of the past eight winners also won their previous race, though Noble Yeats was ninth and Minella Times pulled up.
Four of the six winners before that had finished in the top four too, so the trends suggest form is a factor.
Career falls
Every winner this century except Auroras Encore had two or fewer falls in their career prior to the race.
In the past decade, Minella Times is the only horse to have fallen in their career and won the Grand National.
Won over three miles or more
Twenty one of the 24 different horses to have won this century have all registered at least one career win over three or more miles before winning the National.
Eighteen of them have won more than two races over that trip, though two of the past five aren’t included in that group.
Days since last run
The average break between runs for the past 10 winners is just over 41 days, with a range of 24-84 days.
If you take out the two highest and lowest, you’re left with a gap of 36 days.
UK News
Go Gentle by Maria Semple review – a joyfully clever New York romcom | Fiction
What would Marcus Aurelius have made of the Kardashians? Would Seneca have been amused by mindfulness apps? These were questions I had never consciously pondered before reading Maria Semple’s new novel. Neither, in my irrational and unvirtuous state, had I spent much time considering the application of Stoic philosophy to any other key aspects of modern life.
Semple, best known for her exuberant, ingenious bestseller Where’d You Go, Bernadette?, here presents us with Adora Hazzard, Stoic philosopher and divorcee. Adora lives a contented life on New York City’s Upper West Side, spending her days tutoring the twin sons of an old-money family in philosophy and seeking to live according to Stoic virtues, without recourse to destabilising “externals”. But her settled life is soon disrupted by that most classic of externals, the handsome stranger. “Curse these alluring men who throw us off our game!” (Marcus Aurelius, paraphrased.)
What follows is tricky to categorise. Is it a knockabout comedy about the collective power of midlife women? (No, it isn’t, though it seems to gesture in that direction at the start.) An art heist caper? (Sort of.) A thriller? (A bit.) A romcom? (Sort of, I guess?) A cry of female rage? (Briefly.) A paean to the virtuous joys of Stoic philosophy? (100% yes!) Ultimately Semple seems to have resolved not to agonise over genre for too long. We could look at this as a gift: several books for the price of one.
Stoicism is not traditionally – I know this won’t hurt Marcus Aurelius’s feelings – very sexy, but Semple makes it feel fresh and exciting. Reflecting on a conversation with another character, Adora says, “I was all over the place. Which is what happens when I get started on Stoicism. Fuelled by enthusiasm, I talk faster and faster, bouncing between subjects, repeating myself. It’s like running downhill. … All I can do is keep going and pray I’ve got a shred of dignity left when I reach the bottom.” Adora’s enthusiasm is contagious. For some time after finishing the book, I found myself murmuring, when encountering a mishap, “The cucumber is bitter. Throw it away.” (Marcus Aurelius again.)
And Semple writes with immense charm. The book fizzes with funny lines, as when Adora remarks of one incidental character, with startling specificity, “His face looked weirdly polished, like a Polly Pocket doll that had been licked.” The madcap energy works well for long stretches of the book. Characters come and go. We get to know some of them. Plotlines come and go. We’re able to follow some of them. It’s buoyant and fun.
But at times this merry chaos tips over into a less satisfying disjointedness. There is a clunky section in which the deterioration of Adora’s marriage is charted through time-stamped nuggets, anchored to a whistlestop tour of the big hits from the recent political landscape: “Spring of 2016: I got swept up in Bernie mania”; “September of 2018: #MeToo erupts”, and so on through Brett Kavanaugh, Trump, George Floyd, the riots, some of these elements thematically pertinent but none given enough space in the narrative to feel properly relevant. Meanwhile, Adora’s ex-husband Hal is not fleshed out enough for us to care much about either the beginning or end of the marriage.
Elsewhere, Semple’s energy and economy with backstory are brilliantly deployed, as in the fast and harrowing account of Adora’s ill-fated career as a comedy writer. This compelling section is, in some ways, the centre of the novel (I’m hedging here because Adora’s embrace of Stoicism leads her to reframe how she views this episode), and its strongest element.
The book is a zany high-wire act and the main plot, which at times seemed like a shaggy dog story, is ingeniously wrapped up at the end. For me, the whole doesn’t really cohere, but as Marcus Aurelius said, everything is perspective, not truth. I felt both cleverer and sillier after finishing this book, which is a lovely way to be left.
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