The FTSE 100 ended a losing week on the back foot as investors weighed UK local election results and fresh clashes between the US and Iran in the Middle East .

AJ Bell investment director Russ Mould said: “While officially the ceasefire between the US and Iran remains in place, an exchange of fire in the Strait of Hormuz has helped to extinguish some of the hope that a deal between the parties might be close.”

The FTSE 100 closed down 43.88 points, 0.4%, at 10,233.07. The FTSE 250 ended down 33.34 points, 0.2%, at 22,849.38, and the AIM All-Share fell 3.89 points, 0.5%, at 814.43.

For the week, the FTSE 100 fell 1.4%, the FTSE 250 rose 1.7% and the AIM All-Share advanced 2.0%.

Iranian media reported fresh “sporadic clashes” with US naval forces in the Strait of Hormuz on Friday, following a flare-up the night before, despite the ceasefire in the Gulf.

“For the last hour, sporadic clashes have taken place between the Iranian armed forces and American vessels in the Strait of Hormuz,” the Fars news agency…