Iran ceasefire relief sends shares soaring and energy prices sharply down

The stock market soared today as a relieved City cheered the ceasefire in the Middle East and oil prices slumped. Within the first few minutes of trading the FTSE 100 index of leading British company shares shot up 265 points, or 2.56 per cent to 10,613. Among the biggest risers were mining stocks, travel companies such as British Airways’ owners IAG, up almost 10%, and Rolls-Royce, which supplies engines to airlines, which saw a 9.5% push.