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  "path": "/money/economy-ftse-100-trump-us-iran-war",
  "publishedAt": "2026-05-06T14:16:20.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Rachel Reeves under pressure as UK braces for worst redundancy round in a decade amid Iran crisis",
    "Wetherspoons profit warning as Rachel Reeves slaps pub chain with 'substantial' £60m bill",
    "Labour donor's Net Zero airline enters liquidation without ever taking off - all flights cancelled",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nThe Ftse 100 has surged during trading hours today amid reports the US and Iran are inching closer to signing a peace deal, which could bring the energy crisis to an end.\n\nAs of this afternoon, London's benchmark index climbed 2.3 per cent to reach 10,356.32 by mid-morning, whilst Brent crude slipped to $102.57 per barrel.\n\n###\n\n\n\n\nThe rally followed President Donald Trump's announcement that he was halting \"Project Freedom\", the US operation to open the Strait of Hormuz, citing \"great progress\" towards a \"complete and final agreement with the representatives of Iran\".\n\nWriting on Truth Social, the US president indicated the pause would last \"a short period of time\" whilst negotiators work to finalise terms.\n\n###\n\n\n\n\n###\n\n\n\n\nRuss Mould, investment director at AJ Bell, said: \"The market is celebrating an apparent late-night TACO Tuesday as the US pauses its plan to escort commercial ships through the Strait of Hormuz to focus on negotiations with Tehran.\"\n\nHe noted that the ceasefire, which had appeared close to collapse, now seems to be holding together.\n\nMr Mould added: \"A rally for stocks and bonds has taken hold, and oil prices have eased back from yesterday's highs. However, oil is still comfortably in the $100-plus per barrel territory, which is worrying for inflation.\"\n\nAnglo American, Fresnillo, Antofagasta, and Rio Tinto were among the strongest performers on the blue-chip index, whilst mid-cap miners Hochschild and Endeavour also posted solid gains.\n\n###\n\n\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Rachel Reeves under pressure as UK braces for worst redundancy round in a decade amid Iran crisis\n  * Wetherspoons profit warning as Rachel Reeves slaps pub chain with 'substantial' £60m bill\n  * Labour donor's Net Zero airline enters liquidation without ever taking off - all flights cancelled\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nThe banking sector recovered ground lost in the previous session's sell-off. Standard Chartered topped the Ftse 100 risers alongside the mining giants, with NatWest and Barclays also trading firmly in positive territory.\n\nRising gold, silver, and copper prices provided the catalyst for the resources rally, with precious metals miners particularly well supported by the recovery in bullion.\n\nBP and Shell moved in the opposite direction as the retreat in crude prices weighed on the oil majors.\n\nBoth energy giants featured among the Ftse 100's biggest fallers despite the broader market optimism.\n\n###\n\n\n\n\n###\n\n\n\n\nMr Mould observed that the two companies \"took a step back on the retreat for crude\", with investors rotating away from the sector as geopolitical tensions appeared to ease.\n\nPatrick Munnelly, a trader at the Tickmill Group cautioned that the decline in oil prices reflected \"headline relief\" rather than a fundamental reassessment of supply risks.\n\nHe noted that the safe passage through the Strait of Hormuz remained disrupted and the US blockade on Iranian shipping continued.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Economy update: Ftse 100 surges as Donald Trump demands US-Iran war ceasefire"
}