London stocks drop as Middle East tensions drive oil prices higher
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London’s markets closed lower on Friday amid heightened tensions in the Middle East, surging oil prices and worries over potential deflation in China. BP and Shell helped provide some positive thrust on the FTSE 100 as they benefited from the spike in energy prices, while improved gold prices also pushed Endeavour and Fresnillo up. Axel Rudolph, senior market analyst at IG, said: “Following China deflation worries, after inflation data missed expectations of a rise, and heightened tensions in the Middle East, European stock indices ended the week on a negative note.