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Crude falls on Iran deal; FTSE 100 flat

Wed close: Crude oil prices dropped 1.5% on the prospect of a rise in Iranian fuel exports following the international agreement on Tehran’s nuclear programme.

The FTSE 100 has risen around 5% over the last week in anticipation that Greece would reach a new deal with its creditors.

The benchmark index is up around 3% since the beginning of the year but down by 5% from a record high of 7,122.74 points reached in April. It ended unchanged at 6,753.75 points, unmoved by the latest data showing higher unemployment and wages.

Concerns remain over Greece, with the International Monetary Fund warning that Greece needs far more debt relief.

In a pre-close statement for the financial year to 26 July, pub group JD Wetherspoons said sales were up 7.6%, but as previously indicated full year pre-tax profit is likely to be lower than last year.

 

 

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