FTSE 100 Jumps 2.5% to Near Highs on Iran Ceasefire

2026-04-08 07:26 By Agna Gabriel 1 min. read

The FTSE 100 surged more than 2.5% on Wednesday, reaching its highest level since March and approaching February’s record highs, after the US and Iran agreed to a two week ceasefire just hours before President Donald Trump’s deadline expired, boosting hopes of de-escalation in the Middle East.

The agreement triggered a strong shift into risk assets, while oil prices tumbled sharply, with Brent and WTI both falling below $100 per barrel and down around 15% on the news.

Energy majors lagged, with BP dropping 8% and Shell down 6.3%, despite the latter reporting significantly stronger oil trading results.

Gains were broad based elsewhere, led by Antofagasta up over 13%, EasyJet and Fresnillo rising more than 10%, and Rolls Royce and Anglo American up around 9 to 10%.

Banks also rallied strongly, with Barclays, Lloyds, HSBC and NatWest posting solid gains, while AstraZeneca, GSK, Unilever and Rio Tinto moved higher.



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