European stock markets fall after US carries out third night of strikes against Iran and Donald Trump announces blockade on Iranian shipping and 20% fee for other cargo to transit strait of Hormuz Expectations of an interest rate hike from the Bank of England and European Central Bank have increased after the fresh surge in oil prices revived inflation fears. For the first time in a month, financial markets are fully pricing in a quarter-point UK rate rise by September, likely followed by another one by the end of the year. Continue reading...