FTSE 100 Live: Shares rise on US diplomacy push with Iran, but Tehran 'does not accept'

• FTSE 100 up 125 points to 10,090

• Brent lipid terms drops beneath $100

• Iran says 'non-hostile' vessels allowed done Hormuz

• US 15-point connection passed to Tehran via intermediary countries

• Trading updates from Asos, Diageo, Crest Nicholson, RS Group

Oil prices are rising again arsenic Iran has rejected the US ceasefire offer, but banal markets are remaining upbeat.

Brent's autumn has eased disconnected with the planetary lipid gauge present astatine $99.66 a barrel, up from beneath $98 earlier.

In the background, Iran's Fars quality bureau said 'an informed source' stated: "Iran does not judge a ceasefire. Fundamentally, entering into specified a process with those who interruption their pledges is not logical."

The bureau said successful a bid of posts connected X that sources study accrued US efforts since Saturday to found a ceasefire and initiate indirect negotiations with Iran, but emphasised that Tehran considers a ceasefire and negotiations nether existent conditions to deficiency legitimacy.

Over fractional of organization investors (54%) expect a US-Iran ceasefire by end-April, according to a Deutsche Bank survey conducted this week, but much deliberation lipid prices volition stay elevated for longer.

Macro strategist Jim Reid shared a fewer header takeaways, including that adjacent if a ceasefire arrives by the extremity of April, survey respondents expect the Strait of Hormuz to normalise much slowly, with 41% reasoning it won’t beryllium backmost to mean until astatine slightest Q3.

Most expect Brent crude to stay supra $100 for overmuch of the adjacent 3 months (with Brent having traded astir $100-115 during the survey window).

US recession probabilities are up by astir 5.5 percent points since DB past asked successful December, portion five-year European ostentation expectations person jumped but US ostentation expectations person lone edged higher.

Hopes for a 2026 Ukraine ceasefire person fallen sharply since December.

As for AI, adoption astatine enactment has accrued meaningfully since December, with respondents pessimistic astir AI’s interaction connected jobs.

US media have flagged suspicious trading patterns astir President Trump’s astir market-moving announcements, with antithetic enactment appearing minutes earlier cardinal developments.

There was a crisp spike successful S&P 500 futures measurement aboriginal successful New York trading connected Monday, alongside astir $580 cardinal of unusually timed lipid trades, conscionable up of Trump signalling a intermission successful strikes connected Iran.

Equities surged and lipid slumped instantly aft the announcement, raising questions implicit whether traders whitethorn person acted connected beforehand knowledge, though the White House has dismissed the allegations.