U,K.'s equity benchmark FTSE 100 rose sharply on Wednesday thanks to hectic buying across the board following the U.S. and Iran agreeing to a two-week ceasefire to ensure stability in the region's critical energy corridor.
Following the development, oil prices tumbled, easing worries about inflation and growth. Brent crude futures tanked as much as 14% to $91 a barrel.
U.S. President Donald Trump said the breakthrough is a major victory for international diplomacy, as Iran has signaled a readiness for lasting stability after a volatile and prolonged standoff.
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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.