FTSE 100 rallies to one-month high following US-Iran ceasefire agreement
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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.
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