The Ftse 100 has surged during trading hours today as President Donald Trump hints at an end to the US-Iran war, hailing an imminent end of his “legendary” campaign in the Middle East with hopes the Strait of Hormuz will reopen.As of this afternoon, London’s benchmark index climbed 2.3 per cent to reach 10,356.32 by mid-morning, whilst Brent crude slipped to $102.57 per barrel.The rally followed President Donald Trump’s announcement that he was halting “Project Freedom”, the US operation to open the Strait of Hormuz, citing “great progress” towards a “complete and final agreement with the representatives of Iran”.Writing on Truth Social, the US president indicated the pause would last “a short period of time” whilst negotiators work to finalise terms.The Ftse 100 is back in the green | GETTY Russ Mould, investment director at AJ Bell, said: “The market is celebrating an apparent late-night TACO Tuesday as the US pauses its plan to escort commercial ships through the Strait of Hormuz to focus on negotiations with Tehran.” He noted that the ceasefire, which had appeared close to collapse, now seems to be holding together.Mr Mould added: “A rally for stocks and bonds has taken hold, and oil prices have eased back from yesterday’s highs. However, oil is still comfortably in the $100-plus per barrel territory, which is worrying for inflation.”Anglo American, Fresnillo, Antofagasta, and Rio Tinto were among the strongest performers on the blue-chip index, whilst mid-cap miners Hochschild and Endeavour also posted solid gains.The Ftse 100 is back in the green | GOOGLE The City of London is anxious over the stock market’s peformance | PAThe banking sector recovered ground lost in the previous session’s sell-off. Standard Chartered topped the Ftse 100 risers alongside the mining giants, with NatWest and Barclays also trading firmly in positive territory.Rising gold, silver, and copper prices provided the catalyst for the resources rally, with precious metals miners particularly well supported by the recovery in bullion.BP and Shell moved in the opposite direction as the retreat in crude prices weighed on the oil majors. Both energy giants featured among the Ftse 100’s biggest fallers despite the broader market optimism.MAPPED: Where is the Strait of Hormuz? | GB NEWSMr Mould observed that the two companies “took a step back on the retreat for crude”, with investors rotating away from the sector as geopolitical tensions appeared to ease.Patrick Munnelly, a trader at the Tickmill Group cautioned that the decline in oil prices reflected “headline relief” rather than a fundamental reassessment of supply risks.He noted that the safe passage through the Strait of Hormuz remained disrupted and the US blockade on Iranian shipping continued.