Peace Accord Sparks Global Market Surge as Metals Rally

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading rose around 0.09% on 15 June 2026.  

Macro Update: Global markets are surging after a breakthrough US-Iran peace accord reopened the Strait of Hormuz, despite the World Bank lowering 2026 growth to 2.5%. Oil prices plummeted to $84, while tech pivots toward the SpaceX IPO. Fed Chair Kevin Warsh's debut meeting remains the next critical monetary trigger.  

Top Market Movers: Among top gainers on FTSE 100 index, Fresnillo PLC (LSE: FRES) witnessed a rise of 7.66% followed by Antofagasta PLC (LSE: ANTO) witnessed a rise of 6.16%. 

Commodity Update: The U.S. dollar weakened to a 10-day low against major currencies after reports that the United States and Iran agreed on a framework aimed at ending hostilities and reopening the Strait of Hormuz. The development pressured crude oil prices, with Brent crude falling to USD 83.82 per barrel. Precious and industrial metals advanced, with gold rising 2.59% to USD 4,348.75, silver climbing 3.70% to USD 70.52, and copper gaining 1.05% to USD 13,848.10. 

Our Stance: Our view remains cautiously optimistic. While the breakthrough US-Iran peace accord and plunging oil prices provide massive immediate relief to global markets, underlying stagflationary risks persist. We expect high volatility as investors pivot toward the SpaceX IPO and parse Fed Chair Kevin Warsh's crucial debut policy decisions. 

FTSE 100: The FTSE 100  Index is trading around 10,481.50, down 0.14% in the latest session, but continues to hold above its 50-day SMA of 10,406.87, indicating that the broader near-term trend remains constructive. Recent price action reflects continued consolidation near recent highs, while the 14-day RSI has improved to 55.35, suggesting neutral-to-positive momentum conditions. Immediate support is placed near 10,376.69, with the next support level seen near 10,271.87. On the upside, immediate resistance is located around 10,586.32, while the next resistance level is seen near 10,691.13. A sustained move above the resistance zone could strengthen the positive outlook, while a break below support may weaken the near-term setup.