(Il Sole 24 Ore Radiocor) - Milano, 2 apr - Shares in London closed higher, bucking the trend in Europe, after the latest update from US president Donald Trump on the conflict in Middle East failed to enthuse investors.

In a national address last night, Trump said military aims in Iran would be met 'very shortly' but added the US will hit Iran 'extremely hard' in the next 2-3 weeks, saying 'we're going to bring them back to the stone ages, where they belong.' Iran replied that 'as far as the Iranian nation is concerned, we are absolutely determined and resolute to continue our defense against this aggression ... we have no choice but to fight back fiercely.' Trump also repeated that opening the Strait of Hormuz, a critical chokepoint for global oil trade, was a problem for other countries.

Sentiment was further dampened by reports that the US administration may impose 100% tariffs on branded drugs for pharmaceutical companies lacking domestic investment agreements with the White House.

Energy stocks were broadly higher boosting the blue-chip index as crude prices resumed their ascent following Trump's comments.

BP and Shell added 2.64% at 591.20 pence and 2.90% at 3,543.50 pence, respectively.

The London FTSE 100 closed up 0.69% at 10,436.29 points.

(RADIOCOR) 02-04-26 18:14:16 (0562) 5 NNNN