London close: Stocks erase early losses as Iran halts Israel attacks

8th Jun 2026 16:16

(Sharecast News) - UK stocks finished more or less flat on Monday, marking a subdued start to the week after swinging between gains and losses for most of the session.

The FTSE 100 finished just 5.15 points higher (+0.05%) at 10,373.20, erasing earlier losses which sent it to a low of 10,319.17 (-0.47%).

Markets have traded within a narrow range over the past week or so as investors continued to eye developments in the Middle East, reacting to the ongoing tussle between political leaders in Israel, Iran and the US.

Oil prices had come off their highs of the day by the afternoon after Iran announced the end of military operations against Israel. The two countries breached a fragile ceasefire and exchanged fire in a flurry of attacks over the weekend and into Monday.

Fears that hostilities were resuming sent global energy prices sharply higher, with Brent crude rising as high as $98.08 a barrel, up from Friday's settlement price of $93.09, before falling back down to $94.59.

According to a statement carried by Iranian media, the country's joint military command has now confirmed that its military operation against Israel has come to an end, although it warned that "much more severe and crushing measures" would follow should there be any further "aggression and hostile acts", including in southern Lebanon.

The statement from Iran coincided with social media updates from US president Donald Trump calling on Israel and Iran to "immediately stop 'shooting'", and insisting that both sides were "looking to do an immediate CEASEFIRE!"

"Markets find themselves right back where they were a few days ago, as stocks rebound from Friday's wave of selling and the brief Israel-Iran clash subsides into quiet once again," said Chris Beauchamp, chief market analyst at IG.

Tate & Lyle surges

Tate & Lyle was the standout performer across the FTSE 350, rising 15% after agreeing to be taken over by US peer Ingredion in a £2.7bn deal. The ingredients specialist is being acquired for 595p per share in cash and dividends of up to 20p share. It values the business at £2.7bn, with an implied enterprise value of £3.7bn, and represents a 58.7% premium to the closing share price on 13 May, the last day of trading before the takeover talks were first disclosed.

Asia-focused banks HSBC, Prudential and Standard Chartered were bouncing back after a tumble last week following reports that Beijing was tightening controls on capital outflows.

Housebuilders were also under the cosh amid concerns about rising interest rates. Barratt Redrow, Berkeley Group and Persimmon all fell on the FTSE 100 while second-tier peers Vistry and Bellway were also lower.

Market Movers

FTSE 100 (UKX) 10,373.20 0.05%

FTSE 250 (MCX) 23,013.43 -0.21%

techMARK (TASX) 5,996.38 -0.14%

FTSE 100 - Risers

Flutter Entertainment (DI) (FLTR) 7,898.00p 4.97%

Entain (ENT) 569.80p 2.59%

Intertek Group (ITRK) 5,570.00p 2.11%

BT Group (BT.A) 204.50p 1.49%

British American Tobacco (BATS) 4,469.00p 1.48%

Halma (HLMA) 4,722.00p 1.24%

Airtel Africa (AAF) 343.80p 1.24%

Vodafone Group (VOD) 111.85p 1.18%

Coca-Cola HBC AG (CDI) (CCH) 4,338.00p 1.02%

Weir Group (WEIR) 2,396.00p 1.01%

FTSE 100 - Fallers

Scottish Mortgage Inv Trust (SMT) 1,438.00p -2.84%

Berkeley Group Holdings (The) (BKG) 3,392.00p -2.81%

Marks & Spencer Group (MKS) 355.40p -2.66%

Persimmon (PSN) 1,041.50p -2.53%

Barratt Redrow (BTRW) 253.40p -2.39%

Smurfit Westrock (DI) (SWR) 3,054.00p -2.02%

Lion Finance Group (BGEO) 10,340.00p -1.99%

Haleon (HLN) 331.00p -1.78%

Melrose Industries (MRO) 459.60p -1.67%

Kingfisher (KGF) 279.40p -1.65%

FTSE 250 - Risers

Tate & Lyle (TATE) 564.00p 14.77%

Ithaca Energy (ITH) 255.80p 7.12%

Hays (HAS) 36.24p 4.38%

TP Icap Group (TCAP) 326.80p 3.35%

Ocado Group (OCDO) 205.00p 2.55%

CMC Markets (CMCX) 465.00p 2.42%

Applied Nutrition (APN) 285.00p 2.15%

Chemring Group (CHG) 510.00p 2.00%

AEP Plantations (AEP) 1,534.00p 1.99%

Grainger (GRI) 153.30p 1.93%

FTSE 250 - Fallers

Baltic Classifieds Group (BCG) 183.50p -4.97%

IP Group (IPO) 63.70p -3.78%

Ceres Power Holdings (CWR) 650.00p -3.70%

Vistry Group (VTY) 250.60p -3.69%

Bellway (BWY) 1,755.00p -3.36%

XP Power Ltd. (DI) (XPP) 1,726.00p -3.25%

Taylor Wimpey (TW.) 75.30p -2.69%

Pacific Horizon Inv Trust (PHI) 1,098.00p -2.31%

Greencoat UK Wind (UKW) 101.20p -2.22%

Kier Group (KIE) 200.20p -2.15%