FTSE 100 Live: Stocks take a dip as Trump’s ceasefire in doubt
Good morning and welcome back to the City AM liveblog.
Hopes for peace in the Middle East are on thin ice with the ceasefire unveiled on Wednesday morning already seemingly in tatters.
According to Mohammad Bagher Ghalibaf, Iran’s parliament speaker, the US and Israel have already “violated” Iran’s 10-point ceasefire proposal in three ways.
And despite Trump hailing a “golden age” for the Middle East just 24 hours prior, the President has now returned to threats on the Middle East.
He warned that if an agreement with Iran is not reached, then the “‘shootin’ starts,’ bigger, and better, and stronger than anyone has ever seen before”.
A Truth Social post from the President said the US military presence was “appropriate and necessary for the lethal prosecution and destruction of an already substantially degraded enemy”.
He rounded off the message stating the US is “loading up” and “looking forward” to its next “conquest”.
Markets were handed some reprieve by the hope at peace on Wednesday, with global indexes bouncing into the green and the price of oil tumbling.
The FTSE 100 closed up 2.5 per cent at 10,608.88 led by a surge from City heavyweights who were clawing back losses made in the last year.
We’ll be bringing you the latest updates and market fallout.
Here’s a few of our top headlines this morning
- Space stocks lift off as investors eye Space X moment
- Close Brothers and First Rand look to park motor finance row
- North Korea using elite rugby to entice English teachers from Britain
- ‘Significant backlog’ for Tribunal cases as new workers’ rights come into law
- Oil slides and stocks surge as US hails ‘chance at peace’
- Energy bills threat recedes but retail and hospitality remain on brink
- ‘Beautiful thing’: Trump moots US-Iran tax for ships in Strait of Hormuz
