FTSE 100 on track for best month since first US attacks on Iran five months ago – as it happened

The FTSE 100 stock market index is poised to achieve its best monthly performance since the first US strikes on Iran five months ago, as the story unfolds in real-time. London's leading corporations are defying the impact of geopolitical unrest, while petrol prices in the UK have surged to £1.60 per litre, the highest level since Donald Trump authorized renewed military action.

A notable figure in the financial world piquing the interest of the media is Leopold Aschenbrenner, a German-born AI prodigy who has been compelled to liquidate his hedge fund in a desperate attempt to recoup losses following the waning of the AI boom. The 24-year-old, who previously worked for OpenAI and the FTX Future Fund, amassed substantial funds from investors before venturing into artificial intelligence investments, which initially yielded significant returns.

However, the rapid decline of his high-flying hedge fund serves as a cautionary tale, as the world witnessed once again how easily brilliant minds can be deceived by untested investors promising unprecedented success. The downward spiral of Aschenbrenner's firm highlights the cyclical nature of such fiascos, with industry insiders noting that "everybody always wants to find the next golden child," a pattern that continues to repeat itself.

In a matter of hours, the sudden intervention of Citadel hedge fund, spearheaded by Bill Griffin, resulted in the acquisition of Aschenbrenner's investments at a discounted price. This miraculous turnaround marked a stark contrast for the once-promising young investor, who had no prior investment experience before launching his hedge fund approximately two years ago.

Over the past month, Aschenbrenner's firm witnessed a dramatic decrease in assets, plummeting from a peak of $45 billion at the beginning of July to a current valuation of about $10 billion.