FTSE 100 Live: Stocks to drop as Trump warns takes ‘two to tango’ on Iran peace

Good morning and welcome back to the City AM liveblog.

Donald Trump has hinted a peace deal in the Middle East could come as soon as “over the weekend” in the latest back-and-forth of negotiations between the US and Iran.

The President yesterday doubled down once more on his claim that Iran is set to agree not to have a nuclear weapon – a key part of contention throughout the talks.

“They’re pretty close to signing a paper,” Trump told reporters in the Oval Office yesterday.

“We’ve actually got along with them very well.”

Though he did repeat the phrase “it takes two to tango” as efforts continue to wane to get both sides to agree on the details of a proposal.

The latest remarks come after weeks of Trump suggesting a peace agreement between Washington and Tehran was on the horizon. Earlier this week, Iran was reported to have pulled out of peace talks with the US sending a major blow to global markets and rattling the oil market.

The US House of Representatives have also passed a measure which aims to curb the war in Iran. The resolution directs Trump to remove US armed forces from hostilities with Iran, unless Congress itself votes to declare war or authorise the use of military force. 

The resolution – voted for in a 215-208 majority after four Republicans gave support – directs Trump to remove US armed forces from hostilities with Iran, unless Congress votes to declare war or authorises the use of military force. 

But it does not formally force him to end the conflict and instead serves as a symbolic expression of disapproval of the conflict.

We’ll be bringing you the latest market reaction to this and more.

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