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Stock market reaction and business news for Friday
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The FTSE 100 hit a new closing record on Thursday after investors continued to look for opportunities outside the US - but they have fallen again on Friday morning, along with the major European stock markets. Asia stocks also fell overnight, the Nikkei 225 and the Hang Seng both closing almost 1 per cent down.
However, there are surging prices in both gold and oil, following Israel’s overnight strikes on Iran which has escalated the risk of war. Iran exports more than 1.5m barrels of oil a day and could impose an effective block on supply if they close the major shipping route, the Strait of Hormuz.
