Iran war hurting UK economy as consumer confidence falls; BP’s new chair suffers investor revolt – as it happened

UK consumer confidence fell for a third straight month to -25 in April, the lowest since autumn 2023, as GfK said households are getting “the jitters” over personal finances, fuel costs and the wider economy. The sharpest deterioration was in views on the UK economy: the backward-looking gauge dropped 8 points to -51 and expectations for the next 12 months fell 6 points to -43. GfK said the worsening mood is being driven by higher fuel prices and the risk of further energy-price increases, with consumers increasingly building contingency savings. The article also links the pressure to disruption from the Iran war and elevated costs at the pump, reinforcing the inflationary backdrop for UK households and businesses. For precious metals, the direct market read-through is limited, but the risk-off tone and rising inflation anxiety are supportive for haven demand at the margin. UK-listed precious metals producers were among the FTSE 100 fallers in the session, alongside broader consumer-sensitive stocks, suggesting the macro hit from energy shocks is being felt across UK assets. Near term, watch for whether sustained Middle East disruption keeps oil and fuel prices elevated, as that would likely keep real-economy stress and safe-haven interest in play.