FTSE 100 Live: Stocks slump after bond rout hits global markets

Welcome back to City AM‘s FTSE 100 liveblog.

The FTSE 100 has returned to the red after markets were hit by the spiking price of oil this week that led to a global bond sell-off.

The UK’s 10-year gilt yield rose ten basis point yesterday before giving up some gains to settle seven basis points higher at 5.45 per cent in a blow to the government’s cost to borrow.

Meanwhile, Brent crude – the international benchmark for oil prices – soared above $102 per barrel following reports that the Trump administration had instructed the Pentagon to develop strike options against Iran that could be carried out before the midterm elections.

Stick with us throughout the day for the latest news from the London Stock Exchange and the wider business world, as soon as we get it.

Here’s a look at some of our top headlines:

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