British stocks edged higher on Wednesday as global markets rallied on news that the U.S. and Iran had agreed to a two-week ceasefire just ahead of a deadline set by President Donald Trump.
The pound strengthened, while European equities moved higher. As of 0704 GMT, the blue-chip FTSE 100 rose 2.7%, while the British GBP/USD gained 1.04% against the dollar to 1.3430. Germany’s DAX advanced rose 5.2%, and France’s CAC 40 climbed 1.8%.
"...I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East," Trump posted on Truth Social.
UK round up UK Prime Minister Keir Starmer is traveling to the Middle East on Wednesday to meet with allies and support ceasefire efforts following an agreement reached overnight.
Starmer welcomed the ceasefire agreement, stating it will bring a moment of relief to the region and the world. During his visit, Starmer will hold discussions focused on ensuring the reopening of the Strait of Hormuz remains permanent. The strait is a critical waterway for global oil shipments.
House prices in the UK fell 0.5% in March, bringing the average property price to £299,677, according to data released by Halifax on Wednesday.
The decline follows a 0.3% increase in February. Annual growth slowed to 0.8%, down from 1.2% the previous month.
Amanda Bryden, Head of Mortgages at Halifax, said the slowdown reflects uncertainty regarding the conflict in the Middle East. Concerns about higher energy prices have pushed up inflation expectations, which led to a rise in mortgage rates and reduced confidence that interest rates will be cut this year.
Shell PLC (AS:SHEL) said that first-quarter 2026 indicative refining margins rose to $17 per barrel, while warning that unprecedented volatility in commodity prices is expected to drive a working capital outflow.
The company said working capital movements are expected at between negative $15 billion and negative $10 billion in the quarter, reflecting the impact of price swings on inventory and receivables.
Renishaw PLC (LON:RSW) annoucned the appointment of John Shipsey as Chief Financial Officer and Executive Director, effective April 13, 2026.
Shipsey brings extensive board and executive leadership experience to the manufacturing technologies provider. He previously served as CFO at Dyson Limited for 12 years, Smiths Group plc for five years, and Featurespace Limited for two years.
