FTSE 100 Slides as US-Iran Tensions Ramp Up Again; JD Sports Shares Continue to Climb

London’s main index retreated on Friday morning, with the FTSE 100 falling 0.7% as renewed geopolitical anxiety impacted markets.

The FTSE 250 slipped 0.4%, while European peers also struggled, with Germany’s DAX dropping 1% and France’s CAC 40 falling 0.8%.

Investor nerves were rattled by a fresh escalation in military hostilities between US and Iranian forces in the Strait of Hormuz, overshadowing President Donald Trump’s insistence that a ceasefire remained in place and his calls on Tehran to conclude a peace deal quickly.

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Against the gloomy backdrop, JD Sports stood out as the FTSE 100’s top riser, gaining 4.1% and extending Thursday’s 7% surge that followed the sportswear retailer’s full-year results for the 52 weeks to 31 January 2026.

Total sales climbed 10.5% to £12.7 billion, though the company widened its earnings guidance to £750m–£850m, below fiscal 2026’s profit before tax and adjusting items of £852m — a 7.7% year-on-year decline.

JD noted it has no direct Middle East exposure but said it is monitoring the situation carefully. BT Group rose 2.4% and Vodafone edged up 0.8%.

Among the fallers, Intertek dropped 3.2% after its board rejected a third takeover approach from private equity firm EQT, dismissing an offer of £58.00 per share in cash as a significant undervaluation.

IAG fell 3% after warning that surging fuel costs linked to the Middle East conflict would dent full-year profits, despite a solid first-quarter performance. Sainsbury’s declined 2.4%.