Barclays storms the headlines as activists disrupt its AGM over Israel/fossil fuel links. UK-based, global bank (UK/Investment, PBWM, etc.).
As of March 12, 2026, Iran has claimed responsibility for attacks disrupting oil shipments through the Strait of Hormuz, a critical route for 20% of global oil. This has driven oil prices near $100 per barrel, pushing US gas prices above $3 per gallon nationwide for the first time since 2023. The US and allies face supply constraints amid ongoing conflict and strategic reserve releases.
UK housing prices are forecasted to rise modestly over the next two years amid geopolitical tensions and rising energy costs. Mortgage rates are increasing, and consumer confidence is waning due to the Iran conflict, which also influences build costs and market demand.
The UK mortgage market has seen a significant decline in available deals and rising rates due to geopolitical tensions and increased swap rates. Over 200 deals have disappeared since March 6, with rates now exceeding 5.5%, impacting first-time buyers and homeowners. Experts warn rates will likely stay high as global instability persists.
The Treasury Committee has launched an inquiry into Plan 2 student loans amid ongoing debate after the chancellor froze repayment thresholds. Labour MPs are urging changes to make the system fairer, with discussions on lowering interest rates and extending loan terms. The government says reforms will be costed and funded, while evidence is being collected until 14 April.
Oil prices rose sharply following increased tensions in the Middle East, with WTI and Brent climbing over 8-14%. Markets reacted with volatility, as investors weigh the potential for supply disruptions and economic impacts amid ongoing Iran conflict and US political signals. The situation remains fluid as the war's duration and consequences unfold.
Mortgage rates in the UK have declined following recent market reactions to global conflicts and economic uncertainty. Lenders are passing on savings from falling swap rates, but geopolitical tensions continue to cause market volatility, impacting borrowing costs and demand for home loans. The Bank of England's upcoming rate decision remains a key factor.
The UK government has launched a campaign to encourage retail investors to shift savings from cash into investments. This follows new targeted support initiatives and policy changes aimed at increasing financial resilience, despite ongoing market turbulence and consumer caution about risks.
The debate over live facial recognition has intensified as authorities weigh stricter rules and public concerns. Scotland is considering a bespoke code of practice, while the Home Office is exploring a broader national framework. Polls show mixed public views on rollout.
Gilt yields have surged on leadership speculation and fiscal uncertainty as Keir Starmer contemplates his position amid mounting calls for him to go. Markets are pricing higher long-term borrowing costs, with 30-year yields near multi-decade highs and the pound softening.
ONS data shows UK CPI has fallen to 2.8% in April, the lowest in over a year, driven by a 7% cut to the energy price cap. Analysts warn inflation will rise again as the Iran conflict pushes wholesale energy prices higher; Bank of England policy likely remains cautious with potential rate moves dependent on energy spillovers.
Currys has reported solid trading with Nordics growth and a return toward pre‑cyber attack levels, while its chief executive is set to move to Boots later this year. The group notes operational resilience amid a cautious consumer backdrop and ongoing cost pressures.