UK government borrowing costs fall to lowest since mid-April as markets cling to US-Iran peace deal hopes – business live

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British government borrowing costs are falling sharply this morning on hopes that US and Iranian negotiators will make progress reopening the strait of Hormuz.

UK bond prices are ralling in early trading, pushing down the yield (or interest rate) on the debt.

Rising oil prices have been fuelling inflation expectations across the globe, putting upward pressure on global yields — in some places to levels not seen since the subprime crisis, and in others to levels unseen for decades.

At 6pm local time on 25 May, the local authorities confirmed that no injuries, leaks or contamination have occurred. GKN is working closely with customers on operational recovery and supply plans.

The progress made over the last few days is testament to the continued skill and dedication of all the support teams and services involved.

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