FTSE 100 Edges Higher In Cautious Trade

(RTTNews) - The UK stock market's benchmark FTSE 100 edged higher Friday morning amid easing worries about the Middle East situation after Iran and the U.S. agreed in principle to extend their ceasefire by sixty days.

According to the tentative agreement, pending final approval from U.S. President Donald Trump, Iran would not be able to impose tolls on ships transiting the Strait of Hormuz, while the U.S. would gradually lift its sea blockade on Iranian ports.

The FTSE 100, moving in a tight range, was up 27.02 points or 0.27% at 10,452.98 a little while ago.

Autotrader Group gained 4.5%. Convatec Group, Endeavour Mining, Burberry Group, 3i Group, Coca-Cola HBC, Mondi, IAG, Antofagasta, Rolls-Royce Holdings, Compass Group, Barclays, RightMove and Scottish Mortgage moved up 1%-3%.

Pearson drifted down 2.7%. British American Tobacco, Centrica, Babcock International, SSE, Standard Life, Prudential, Tesco and Imperial Brands shed 0.8%-2%.