FTSE 100 recovers as Israel and Iran halt strikes
The FTSE 100 ended flat on Monday after recovering from earlier losses as geopolitical tensions eased following a ceasefire agreement between Israel and Iran. Tate and Lyle shares surged nearly 15 percent on a takeover deal while homebuilders weighed on the index amid restrictive interest rates.
The FTSE 100 finished flat at 10,373.2 points on June 8 after recovering from a 0.5% midday decline. The index stabilized following an agreement between Iran and Israel to halt direct military strikes after an appeal from the United States. This pause in hostilities eased pressure on global equities as crude oil prices scaled back from earlier session highs.
### Geopolitical De-escalation Eases Oil Pressure The blue-chip index recovered as oil prices rose 1% by late evening, cooling from a 5% spike recorded earlier in the day. While both nations agreed to stop shooting, Iran stated it would resume strikes if Israel continued to hit Hezbollah in Lebanon. The midcap FTSE 250 slipped 0.2% during the session.
