UK Stocks Reach Record Highs Amid Tech Rally Pause and Iran Deal Uncertainty

UK stocks have reached record highs, driven by gains in energy and defensive sectors. The FTSE 100 rose 0.6% to close at [specific index level], surpassing its previous record set earlier this month. Mid-cap stocks also advanced, adding 0.4%. Energy giants like BP and Shell led the way as oil prices firmed on geopolitical tensions.

The tech-heavy Nasdaq Composite slipped 0.3% in early trading, as investors rotated out of high-growth names. This pause comes after a strong run for tech stocks, which have rallied on optimism about artificial intelligence and cooling inflation.

The potential Iran nuclear deal could have far-reaching implications for global energy markets and geopolitical stability. If confirmed, the deal is expected to lift sanctions on Iranian oil exports, potentially increasing global supply and pressuring crude prices.