London midday: FTSE stays up despite reports of ceasefire violation
By Michele Maatouk
Date: Tuesday 24 Jun 2025
(Sharecast News) - London stocks were still in the black by midday on Tuesday despite claims by Israel that Iran has already breached their ceasefire.
The FTSE 100 was up 0.3% at 8,783.39. The index was underperforming its European peers, however, mainly due to sharp declines for heavily-weighted stocks such as BP and Shell.
The mood remained relatively upbeat despite Israel accusing Iran of violating the ceasefire between the two announced just hours earlier. According to reports, Iran launched missiles at Israel early on Tuesday. Tehran has denied the reports.
Danske Bank: "As Israel has already accused Iran of violating the ceasefire, we are not yet fully convinced that the danger is over.
"Israeli PM Netanyahu (but also Trump) has hinted that he wants to topple the Islamic regime, and if that is the case, their job is not yet finished."
On home turf, the latest Industrial Trends survey from the Confederation of British Industry showed that manufacturing output weakened in the three months to June.
The CBI's balance for manufacturing new orders fell to -33 from -30 in May.
Ben Jones, CBI lead economist, said the sector is under significant pressure, contending with high energy costs, rising labour costs, pervasive skills shortages, and a volatile global economic environment.
"With departmental budgets now set following the Spending Review, businesses are looking to the government to dismantle barriers to growth ahead of the Autumn Budget," he said.
"Welcome progress has been made with the recent infrastructure and industrial strategies setting a clear long-term economic vision for the UK. This is complemented by a US-UK trade deal expected to mitigate tariff uncertainty, especially for automotive and aerospace, and British Steel's agreement to provide 337,000 tonnes of rail track for Network Rail.
"With long-term strategies presented, the government must now continue to back up its ambitions with short-term delivery. This includes rolling out welcome energy cost interventions as soon as possible; delivering on Growth and Skills Levy flexibility; and pushing technology adoption to boost productivity.
"Businesses are ready to work in partnership to translate long-term ambitions into near-term investments, job creation and opportunities."
In equity markets, BA and Iberia owner IAG, easyJet and Wizz Air all flew higher as geopolitical tensions eased and as oil prices fell back, having suffered recently amid the prospect of higher fuel costs.
Other travel-related stocks gained, with InterContinental Hotels and cruise operator Carnival also higher.
Recruiter SThree surged as it reported a drop in first-half net fees, citing an "ongoing challenging trading environment", but pointed to a modest improvement through the half and maintained its full-year profit guidance. Hays also gained.
Distribution and services group Bunzl advanced as it said trading in the six months to the end of June had been as expected and that "actions are underway" to improve performance.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "After rocking the boat in April, Bunzl has thrown investors a lifeline with a calm, no-surprises trading update. Just a few months ago, the story was very different, as a series of issues triggered a major sell-off.
"Typically known for its stability, Bunzl's uneventful update today, while not particularly exciting on the upside, should be received relatively well. Performance is expected to improve over the second half, and fixes are underway to address pricing issues in the key North American markets. With expectations now reset, Bunzl should be able to get back to what it does best: predictable growth."
On the downside, oil giants BP and Shell and defence firm BAE Systems lost ground, along with Harbour Energy and Ithaca Energy.
Telecom Plus fell even as it reported record profits in line with market expectations in the 12 months to 31 March despite a slip in revenues, and pointed to further growth in the year ahead.
Market Movers
FTSE 100 (UKX) 8,783.39 0.29%
FTSE 250 (MCX) 21,301.72 0.86%
techMARK (TASX) 5,038.64 0.28%
FTSE 100 - Risers
easyJet (EZJ) 537.80p 6.16%
International Consolidated Airlines Group SA (CDI) (IAG) 324.40p 5.09%
JD Sports Fashion (JD.) 74.64p 3.93%
Smurfit Westrock (DI) (SWR) 3,194.00p 3.70%
Barclays (BARC) 328.85p 3.20%
Informa (INF) 808.60p 3.01%
CRH (CDI) (CRH) 6,680.00p 2.93%
Rolls-Royce Holdings (RR.) 910.40p 2.68%
Antofagasta (ANTO) 1,740.50p 2.68%
Anglo American (AAL) 2,069.00p 2.58%
FTSE 100 - Fallers
BP (BP.) 370.40p -4.14%
Shell (SHEL) 2,612.50p -2.66%
BAE Systems (BA.) 1,846.50p -1.78%
SSE (SSE) 1,806.50p -1.50%
Games Workshop Group (GAW) 16,010.00p -1.36%
Centrica (CNA) 166.15p -1.16%
London Stock Exchange Group (LSEG) 10,655.00p -0.98%
Imperial Brands (IMB) 2,909.00p -0.85%
Fresnillo (FRES) 1,431.00p -0.83%
National Grid (NG.) 1,069.50p -0.70%
FTSE 250 - Risers
Carnival (CCL) 1,629.00p 5.74%
Future (FUTR) 747.00p 5.66%
W.A.G Payment Solutions (WPS) 86.60p 3.59%
Hays (HAS) 65.15p 3.49%
Ocado Group (OCDO) 237.60p 3.26%
JTC (JTC) 847.00p 3.17%
AO World (AO.) 96.20p 3.11%
SDCL Efficiency Income Trust (SEIT) 54.00p 2.86%
B&M European Value Retail S.A. (DI) (BME) 275.40p 2.76%
Tate & Lyle (TATE) 533.50p 2.69%
FTSE 250 - Fallers
Harbour Energy (HBR) 194.00p -6.73%
Ithaca Energy (ITH) 165.30p -5.65%
Telecom Plus (TEP) 1,984.00p -4.39%
Hochschild Mining (HOC) 242.20p -3.43%
Endeavour Mining (EDV) 2,288.00p -2.89%
Drax Group (DRX) 669.00p -1.98%
Serco Group (SRP) 193.90p -1.92%
Energean (ENOG) 883.50p -1.72%
Foresight Environmental Infrastructure Limited (FGEN) 78.50p -1.63%
Diversified Energy Company (DEC) 1,095.00p -1.17%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN