U.S. stocks were lower, with indexes adding to losses in afternoon trading as the Israel-Iran conflict raged on for a fifth day, with the U.S. military moving fighter jets to the Middle East. U.S. military is deploying more fighter aircraft to the Middle East and extending the deployment of other warplanes.
Sterling was lower against the dollar as market focus stayed on developments in the Middle East, while traders await a closely-watched UK inflation print due on Wednesday and a Bank of England interest rate decision due on Thursday.
Oil prices climbed strongly as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact.
Stock indexes stayed higher after last week’s losses as investors took heart from reports that Iran was seeking to end hostilities with Israel, and stayed confident in their predictions for a busy week of central bank meetings.
Crypto exchanges Gemini and Coinbase are reportedly set to secure licenses to operate in the European Union, marking a significant step in their expansion under the newly implemented Markets in Crypto-Assets regulations.
London’s benchmark FTSE 100 rose, coming within spitting distance of a record high, after global risk appetite was boosted by reports Iran was seeking a truce with Israel. Focus this week will shift to monetary policy meetings of the Bank of England
