<\/p>\n
Donald Trump: productive talks<\/p>\n
President Trump\u2019s quick withdrawal of threats to wipe out Iran\u2019s power plants led markets to perform a \u2018handbrake turn\u2019 and reverse earlier sharp losses.<\/p>\n
The FTSE 100 plunged 248 points to 9670 before pulling back above 10,000 after Trump\u2019s social post. The index closed down 24 points at 9894.15.<\/p>\n
Brent crude oil dropped to just over $100 a barrel, down $11, after the president said on Truth Social that the postponement of further attacks followed \u201cvery good and productive conversations regarding a complete and total resolution of our\u00a0hostilities in the Middle East\u201d.\u00a0<\/p>\n
Traders remain on tenterhooks as the US president lurches from all-in attacker to peacemaker. <\/p>\n
The yield on the 10-year UK government bond fell back below 5% \u2014 the highest since the 2008 financial crisis.<\/p>\n
AJ Bell head of markets Dan Coatsworth, said: \u201cNever mind a U-turn, the market performed a handbrake turn with juddering speed.<\/p>\n
\u201cBut the FTSE 100 was a notable laggard compared with other European markets thanks to its relatively heavy weighting towards energy stocks.<\/p>\n
\u201cSignificant uncertainties remain for investors to pick through. The Iranian regime has refuted the idea of dialogue with the US and, even assuming a deal can be agreed, questions of how and when the Strait of Hormuz will be unblocked and how quickly shipments through this strategically important body of water can get back to pre-war levels will remain.<\/p>\n
\u201cThere will be a lot of focus in the coming days on whether the Trump administration\u2019s position holds, whether talks can de-escalate the situation and whether the market can build on its new-found momentum. <\/p>\n
\u201cHints of some renewed tetchiness as European markets headed for the close were a reminder that much is still to be resolved.<\/p>\n
\u201cIf nothing else, today\u2019s trading highlighted that markets can turn on a sixpence and that\u2019s why time in the market rather than attempting to time the market is the best approach for most long-term investors.\u201d<\/p>\n
\t #Trumps #Iran #threat #reversal #prompts #market #rally #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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