The UK stock market gained in strength on Wednesday, as a sharp drop in oil prices, and hopes of a U.S.-Iran peace deal helped lift sentiment. Stocks from mining and financial sectors posted strong gains.
Hopes about a U.S.-Iran deal rose after U.S. President Donald Trump said the two countries were "in negotiations right now" and "want to make a deal so badly."
The U.S. has reportedly proposed a 15-point peace plan to Tehran after a possible one-month ceasefire. Although Tehran has dismissed Trump's claim of talks, several media reports suggest that efforts towards a diplomatic solution have intensified.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.