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London pre-open: Stocks to fall as investors mull ceasefire extension, UK inflation
By Michele Maatouk
Date: Wednesday 22 Apr 2026
(Sharecast News) - London stocks were set to fall at the open on Wednesday as investors mulled the latest UK inflation data and news that US President Trump has extended the ceasefire with Iran.
The FTSE 100 was called to open around 19 points lower.
On Tuesday, Trump said the US will extend the ceasefire with Iran while continuing the blockade of Iranian ports.
The two-week ceasefire had been due to expire on Wednesday. However, in a post on Truth Social, Trump said: "Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal.
"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."
Danske Bank said: "This marks a U-turn in tone, as Trump had earlier ruled out an extension and hinted at military action. With Iran reportedly not requesting the ceasefire and the Strait of Hormuz issue still unresolved, Iran appears to hold the upper hand at present. Following the news, Brent crude held above USD98/bbl."
Trump's latest comments came amid confusion about whether US vice president JD Vance was heading to Islamabad for a second round of talks with Iran.
According to the New York Times, citing a US official with direct knowledge of the situation, the trip was put on hold after Tehran failed to respond to American positions. It was understood the visit could resume if Iran meets US terms, but the White House was waiting for a signal that Iran's negotiators are willing to sign a deal.
Meanwhile, Iran's Tasnim News Agency, which is linked to Iran's Islamic Revolutionary Guard Corps, reported that Tehran's negotiating team had told the Americans through a Pakistani intermediary that it would not attend talks in Islamabad on Wednesday.
On home shores, figures from the Office for National Statistics showed that inflation rose in March as the war in Iran caused global energy prices to soar.
The consumer price index was 3.3% in the 12 months to March, up from 3% in February and in line with consensus.
Motor fuels made the largest upward contribution, the ONS said.
In corporate news, logistics specialist Bunzl reiterated full-year guidance despite an uncertain geopolitical and macroeconomic environment.
The company said it continued to expect operating margins to be slightly lower year on year with "some underlying revenue growth and a small benefit from acquisitions" after group revenue in the first quarter grew by 1.5% supported by volume growth and tariff-related price increases.
JD Sports said chair Andrew Higginson plans to step down at the conclusion of the annual general meeting on 21 July.
The board has begun a process for the appointment of a successor, led by senior independent director Kath Smith.
JD said Darren Shapland will become interim chair following the AGM until a permanent successor has been appointed.
High technology components manufacturer Senior said that it had delivered a "good start" to 2026, with the firm's full-year performance now anticipated to be above previous expectations.
Senior said constant currency group revenues increased 2.5% year-on-year in the first quarter, with aerospace revenue up 9.7%, driven by good growth across civil aerospace, while Flexonics revenues decreased 6.2% mainly due to lower petrochemical sales.
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