Amid escalating tensions in the Middle East following new US airstrikes against Iran, UK investors showed a preference for domestically focused stocks, with the FTSE 250 rebounding after a three-day decline. On July 9, the FTSE 100 closed down 16.59 points, or 0.2 percent, at 10,472.45—its lowest level since June 24—with trading volumes at roughly 242 million shares, about half of the usual activity for this period of the year. Conversely, the FTSE 250 gained 222.92 points, or 1 percent, ending the day at 23,240.56.
Among the FTSE 250 performers, Playtech stood out after issuing a strong profit forecast for 2026 driven by robust growth in the US and Latin America. The gambling technology company’s shares surged 14.1 percent to 365½ pence. Goodwin, a specialist engineering firm supplying sectors including defense, energy infrastructure, and advanced manufacturing, also recorded solid gains. Its shares rose 7.8 percent to £171, adding to a monthly increase of more than 18 percent.
The recruitment sector showed signs of renewed investor confidence. PageGroup shares climbed 6.9 percent to 123¼ pence after Deutsche Bank reaffirmed its “buy” rating ahead of the group’s second-quarter trading update, scheduled for Monday. Rival recruitment firm Hays, which is due to release its results on July 10, also rose 1 percent to 35¾ pence, benefiting from investor optimism sparked by PageGroup’s rating.
In the FTSE 100, mining stocks provided notable upside amid a slight decline in the US dollar, making dollar-denominated commodities more attractive internationally. Glencore gained 4.2 percent to 511½ pence following a Goldman Sachs upgrade. Other mining firms, Antofagasta and Anglo American, posted increases of 5.4 percent and 5.8 percent, respectively, buoyed by positive analyst commentary from JP Morgan.
Energy sector developments also featured prominently. Neil McCulloch, head of the Shell and Equinor joint venture Adura, spoke as public consultation opened on the Jackdaw oil and gas field located approximately 150 miles east of Aberdeen. Although the project had previously received approval, a January 2025 court ruling mandated further consideration of the carbon emissions linked to the extracted hydrocarbons. The UK government will make the final decision on project authorization.
McCulloch indicated that Jackdaw could begin operations as early as October and supply up to 6 percent of the nation’s gas demand, sufficient to heat 1.4 million homes. He highlighted the limited current gas storage capacity—equivalent to about eight days' supply—and warned that interruptions from foreign threats or adverse weather limiting renewable energy generation could strain the energy system. Environmental groups, however, oppose development of both Jackdaw and the Rosebank field off the Shetland Islands, urging a faster transition away from fossil fuels.
Separately, the UK’s payment systems regulator reported that victims of authorised push payment (APP) scams were reimbursed £243 million last year by payment companies following new rules instituted in 2024. APP fraud occurs when consumers are deceived into sending money to fraudulent parties. The mandatory reimbursement framework covers losses up to £85,000. David Geale, head of the regulator—which is being integrated into the Financial Conduct Authority—described the past year as “a defining year for payments regulation.”