FTSE 100 Live: Stocks called higher after Trump brands Iran talks ‘boring’
Good morning and welcome back to the City AM liveblog.
Markets were rocked yesterday after reports emerged from Iranian state media that Tehran was pulling out of peace talks with the US.
A proposal that included a 60-day cessation of violence and a play to re-open the Strait of Hormuz has hung in the balance for the last week, though waited on final approval from President Donald Trump.
Both Iran and the US exchanged strikes in the last week as each accused the other of violating the ceasefire. As Israel launched an offensive on Lebanon, news broke out that Iran was ending “talks and exchange of texts through intermediaries” with the US until Israel ends its offensives in both Gaza and Beirut.
Brent crude – the international benchmark for oil – inched back up towards $95 per barrel following the fresh tensions, as markets stayed cautious on supply disruptions.
Trump reacted to the news in an interview with CNBC where he said: “I don’t care if they’re over, honestly.”
“I really don’t care. I couldn’t care less,” Trump said.
He added that the long-running negotiations had “started to get very boring.”
Earlier on Monday, Trump had told NBC News that the US should “go silent” in the negotiations because “we have been talking too much”.
The President would later issue a Truth Social post – after an alleged call with Israeli Prime Minister Benjamin Netanyahu where Trump lashed out – saying both Israel and Hezbollah have agreed to stop fighting.
Though Trump appeared less than optimistic, adding: “Let’s see how long that lasts.” Hours prior to the post Netanyahu wrote on X that Israeli forces will continue its operation as planned in southern Lebanon and that its position remained unchanged.
We’ll be bringing you the latest market reaction to this and more.
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