Investing.com — British stocks fell alongside European peers on Thursday after U.S. President Donald Trump warned the U.S. would hit Iran ’extremely hard’ in the coming weeks, dampening sentiment ahead of the Easter holiday break.
As of 12:30 GMT, the blue-chip index fell 0.5% and the British dropped 0.7% against the dollar to 1.3217. index in Germany fell 2.3%, the in France dipped about 1.4%.
Speaking from the White House, Trump said Washington remained in negotiations with Iran, and repeated his threat of attacking Iran’s electricity infrastructure if Tehran did not accept a deal.
“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,” Trump said, adding that the U.S. was close to completing “all of America’s military objectives shortly.”
UK round up
British companies increased their price expectations for the year ahead as energy costs rose, according to a Bank of England survey released Thursday.
The Decision Maker Panel, a monthly survey of Chief Financial Officers from small, medium and large UK businesses, showed year-ahead price inflation expectations climbed to 3.5% in the three months to March, up 0.1 percentage points from the three months to February.
On a monthly basis, the increase was more pronounced, rising from 3.4% to 3.7% between February and March.
In separate developments, Thames Water is nearing an agreement with regulator Ofwat that would exempt the UK’s largest water company from additional fines through 2030, the Financial Times reported Thursday.
The regulator is expected to accept formal undertakings from the utility instead of financial penalties, according to sources familiar with the discussions cited by the newspaper. Thames Water could still face penalties from the Environment Agency and possible legal action, the report added.
(LON:SSE) narrowed its full-year adjusted earnings per share guidance to 147-152 pence Thursday, moving toward the top of its previous 144-152 pence range.
The British energy company reported a 60% year-on-year increase in network capital investment. SSE confirmed capital investment of around £3.5 billion for the year ended March 31, with adjusted net debt and hybrid capital expected to exceed £10 billion.
The company said five of its 11 major electricity transmission projects are under construction, with 26 of the 34 required major consents received. Full-year results are due May 28.