(Il Sole 24 Ore Radiocor) - Milano, 6 mag - Shares in London closed higher as geopolitical concerns eased amid reports that the US and Iran are in advanced talks on a one-page memorandum to end the war in the Gulf, with one report saying a decision could come in the next 48 hours. In comments to the press, the Pakistan prime minister said momentum was building.

The developments come after US president Donald Trump said he was pausing 'Project Freedom,' the US's plan to convoy ships out of the Strait of Hormuz.

Energy shares were mostly lower with BP and Shell lost 3.72% at 551.30 pence and 3.05% at 3,211.50 pence, respectively.

On the data front, the UK's purchasing managers' index for the services sector rose to 52.7 in April from 50.5 in March, signalling a moderate expansion in service sector output, according to data released by S&P Global.

The composite output index, a weighted average of services PMI and manufacturing output, increased to 52.6 from 50.3 in March, indicative of a moderate upturn in output levels.

The London FTSE 100 closed up 2.15% at 10,438.66 points.

(RADIOCOR) 06-05-26 18:25:56 (0699) 5 NNNN