--- title: "FTSE 100 rallies to one-month high following US-Iran ceasefire agreement" type: "News" locale: "en" url: "https://longbridge.com/en/news/282027623.md" description: "The UK's FTSE 100 index surged to a one-month high, rising 2.9% following a U.S.-Iran ceasefire agreement. This development boosted global stock markets and led to a significant drop in oil prices, impacting major oil companies like BP and Shell, which fell over 5%. The FTSE 250 also saw a 4.5% increase. Investors are now anticipating interest rate hikes by the Bank of England, while British house prices fell due to economic uncertainty. Prime Minister Keir Starmer is set to discuss the Strait of Hormuz's reopening with Gulf leaders." datetime: "2026-04-08T10:57:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282027623.md) - [en](https://longbridge.com/en/news/282027623.md) - [zh-HK](https://longbridge.com/zh-HK/news/282027623.md) --- # FTSE 100 rallies to one-month high following US-Iran ceasefire agreement (For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) April 8 (Reuters) - The UK's FTSE 100 rallied to one-month highs on Wednesday after an agreement between the United States and Iran on a two-week ceasefire, sending global stocks surging and oil prices sharply lower. U.S. President Donald Trump announced the agreement late on Tuesday, just two hours before a deadline he had set for Iran to open the blockaded Strait of Hormuz or face the destruction of its "whole civilisation". The last-minute turnaround helped lift sentiment as traders anticipated a revival of shipping through the strait, which handles about one-fifth of global oil and liquefied natural gas shipments. The blue-chip FTSE 100 index rose 2.9% by 1042 GMT, touching its highest level since March 3, while the midcap FTSE 250 soared 4.5% to its highest since March 10. \* Heavyweight oil companies, including BP and Shell , dropped more than 5% each, tracking a near 15% plunge in crude prices . \* Shell cut its first-quarter gas production outlook while signalling a surge in oil trading profit and a dent to short-term liquidity, offering an early glance into the whiplash effect of the Middle East conflict on oil majors' earnings. \* All the other major FTSE 350 subsectors rose, led by rate-sensitive homebuilders, banks and travel companies. \* Investors priced in around 35 basis points of interest rate hikes by the Bank of England this year - or one and two quarter-point increases - compared with 63 bps on Tuesday. \* British house prices slid unexpectedly last month as economic uncertainty stemming from the Iran war hurt buyer demand, according to mortgage lender Halifax. \* British Prime Minister Keir Starmer will travel to the Gulf on Wednesday to hold talks with regional leaders to try to ensure the Strait of Hormuz opens permanently after a U.S.-Iran ceasefire, his office said. \* Gamma Communications ( GAMCF ) jumped almost 14% after the British telecom firm said it is in preliminary discussions with a number of parties for a potential sale. (Reporting by Sruthi Shankar in Bengaluru; Editing by Vijay Kishore) ### Related Stocks - [VUKE.UK](https://longbridge.com/en/quote/VUKE.UK.md) - [RUKL.UK](https://longbridge.com/en/quote/RUKL.UK.md) - [MIDD.UK](https://longbridge.com/en/quote/MIDD.UK.md) - [BP.US](https://longbridge.com/en/quote/BP.US.md) - [HMCX.UK](https://longbridge.com/en/quote/HMCX.UK.md) - [SHEL.US](https://longbridge.com/en/quote/SHEL.US.md) - [VEUR.UK](https://longbridge.com/en/quote/VEUR.UK.md) - [ISF.UK](https://longbridge.com/en/quote/ISF.UK.md) - [RDSB.UK](https://longbridge.com/en/quote/RDSB.UK.md) - [SHEL.WI.US](https://longbridge.com/en/quote/SHEL.WI.US.md) - [SHEH.US](https://longbridge.com/en/quote/SHEH.US.md) - [BPH.US](https://longbridge.com/en/quote/BPH.US.md) ## Related News & Research - [Transaction in Own Shares | SHEL Stock News](https://longbridge.com/en/news/287037545.md) - [Transaction in Own Shares | SHEL Stock News](https://longbridge.com/en/news/286754415.md) - [UK inflation slows to 2.8% as energy price cap softens impact of rising fuel costs](https://longbridge.com/en/news/287014699.md) - [SBRS introduces 500 kW charging system for commercial vehicles](https://longbridge.com/en/news/286930046.md) - [--BP to Cut Pipeline Gas Trading Team, Focus More on LNG, Reuters Reports](https://longbridge.com/en/news/286596003.md)