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The FTSE 100 closed down 58.55 points, 0.6%, at 10,609.08 (PA) (PA Wire) <\/p>\n The FTSE 100 closed down 58.55 points, 0.6%, at 10,609.08 (PA) (PA Wire) <\/p>\n
The FTSE 100 started the week on the back foot on Monday as hopes for a peace deal in the Middle East<\/a> once more hung in the balance.<\/p>\n \u201cJust when you think it is safe to go back in the water, the alarm is sounded again,\u201d said Tom Stevenson, investment director, Fidelity International.<\/p>\n The FTSE 100 closed down 58.55 points, 0.6%, at 10,609.08. The FTSE 250 ended 265.71 points lower, 1.2%, at 22,940.21, and the AIM All-Share fell 1.77 points, 0.2%, to 808.34.<\/p>\n Friday\u2019s optimism gave way to renewed fears that hostilities could resume in the Middle East war after Iran<\/a> closed the Strait of Hormuz following its brief reopening.<\/p>\n \u201cThe market mood is very different at the start of the week compared to Friday,\u201d said Kathleen Brooks, research director at XTB.<\/p>\n The price of crude oil had plunged Friday after Iran said it would again allow ships to pass through the key shipping route, the Strait of Hormuz.<\/p>\n But prices rose once more on Monday as Iran closed the waterway and said the US blockade and seizure of an Iranian cargo ship breached the two-week ceasefire.<\/p>\n Brent oil traded higher at 94.45 dollars a barrel on Monday afternoon, compared with 89.15 dollars at the time of the equities close in London on Friday.<\/p>\n Ms Brooks said the jump in oil prices and pull-back in stocks is a reminder that the current ceasefire that expires on Wednesday is \u201cfragile\u201d.<\/p>\n On Monday, Iran insisted it has no plan to attend a new round of negotiations with the US, although US President Donald Trump<\/a> said he was sending negotiators to Pakistan for talks.<\/p>\n In European equities on Monday, the CAC 40 in Paris ended down 1.1%, and the DAX 40 in Frankfurt fell 1.2%.<\/p>\n In New York, the Dow Jones Industrial Average was down 0.1%, the S&P 500 was 0.3% lower, and the Nasdaq Composite declined 0.5%.<\/p>\n Strategists at HSBC and UBS remained bullish on equity markets despite the latest market unease.<\/p>\n \u201cOur view remains that we have passed peak geopolitical risk. Both sides have a strong incentive to find a deal. That said, we have been urging investors to expect a bumpy road to a lasting peace,\u201d said Mark Haefele at UBS.<\/p>\n While, Max Kettner at HSBC said: \u201cDespite the recent rally across the risk asset spectrum our sentiment and positioning framework still sends a buy signal. In short: be quick.\u201d<\/p>\n The yield on the US 10-year Treasury stretched to 4.26% on Monday compared with 4.24% on Friday. The yield on the US 30-year Treasury widened to 4.89% from 4.88%.<\/p>\n The pound eased to 1.3535 dollars on Monday afternoon from 1.3556 dollars on Friday. Against the euro, sterling firmed to 1.1486 euros from 1.1481 euros.<\/p>\n The euro traded lower against the greenback, falling to 1.1786 dollars on Monday from 1.1805 dollars on Friday. Against the yen, the dollar was trading higher at 158.58 yen, up from 158.08 yen.<\/p>\n On London\u2019s FTSE 100, oil majors BP and Shell benefited from the rising oil price, up 2.9% and 2.5%, recouping some of Friday\u2019s heavy falls, while British Airways owner IAG fell 2.2%.<\/p>\n On the FTSE 250, Renishaw led the risers, up 6.2%, as it raised full-year guidance reflecting buoyant demand and a further \u201csubstantial expansion of our order book\u201d.<\/p>\n The Gloucestershire-based supplier of manufacturing technologies, analytical instruments and medical devices now expects revenue in the financial year to June of \u00a3775 million to \u00a3805 million, raised from guidance of \u00a3740 million to \u00a3780 million provided in February.<\/p>\n It projects adjusted pre-tax profit of \u00a3145 million to \u00a3165 million, lifted from \u00a3132 million to \u00a3157 million.<\/p>\n Plus500 gained 3.8% as it said customer income reached a five-year record high in the first quarter of 2026 as it forecast full-year revenue and earnings ahead of market expectations.<\/p>\n Reflecting a strong first quarter of 2026, the Israel-based trading platform operator said it expects 2026 revenue and Ebitda to be ahead of current market expectations which it put at 779.3 million dollars and 360.4 million dollars respectively.<\/p>\n Chief executive David Zruia said: \u201cThe group delivered an excellent performance in the quarter, with strong growth across key financial and operational metrics.\u201d<\/p>\n Elsewhere, bid interest drove shares of Evoke and Advanced Medical Solutions higher.<\/p>\n William Hill owner Evoke jumped 4.1% after it said it is in discussions with US casino operator Bally\u2019s Intralot regarding a possible all-share takeover offer worth more than \u00a3200 million.<\/p>\n Back in December, Evoke kicked off a strategic review, which it said could include a sale of the company, after the UK Government budget which the gambling firm warned would lift yearly duty costs by up to \u00a3135 million.<\/p>\n Meanwhile, Advanced Medical Solutions rose 16% as it confirmed it is in talks regarding a possible offer for the company, little more than 12 months after another potential suitor failed to secure a deal with the firm.<\/p>\n