FTSE 100 Rises 0.6% to 10,490 as Oil Hits 3-Month Low After U.S.-Iran Deal
Updated
Updated · Reuters · Jun 16
FTSE 100 Rises 0.6% to 10,490 as Oil Hits 3-Month Low After U.S.-Iran Deal
1 articles · Updated · Reuters · Jun 16
Summary
10,490.35 marked the FTSE 100’s level by 11:00 GMT, up 0.6%, while the FTSE 250 slipped 0.1% as lower oil prices lifted risk appetite.
Three-month-low oil extended Monday’s losses after the U.S. and Iran reached a preliminary peace deal to reopen the Strait of Hormuz, a key global shipping route.
Banks rose 1.7% and aerospace and defence stocks gained 2.4%, with HSBC up 1.6%, Barclays 2.1%, Rolls-Royce 2.5% and BAE Systems 2.2%.
Rathbones sank 16.6% to a one-year low after pausing new client onboarding for 12 months, while SDCL Efficiency Income Trust fell 22% on a wind-down plan and AB Foods lost 1.6% after Hovis deal clearance.