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London close: FTSE 100 tumbles 1.7% as US-Iran diplomacy falls apart

By Benjamin Chiou

Date: Wednesday 08 Jul 2026

(Sharecast News) - UK stock markets dropped sharply on Wednesday as oil prices soared to a three-week high after the dismantling of a ceasefire between the US and Iran.
Oil stocks posted decent gains, along with a handful of defensive names, but shares in the heavyweight mining sectors suffered a broad...

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