If a peace deal is reached, certain London-listed stocks could soar. Rolls-Royce and IAG both suffered during the covid-19 pandemic and were both set to recover as fears of the Omicron variant faded.

While IAG is predicting a return to profitability in 2022, this is likely to be supercharged if peace is declared. Rolls-Royce, as the premier aircraft engine manufacturer and repairer will also stand to benefit. Moreover, Rolls-Royce shares are down 20% to 94p and IAG shares down 17% to 135p over the past month. These could be tempting entry points for the speculative investor.

Then there are the mining stocks that have been impacted by the war. Evraz, Polymetal, and Petropavlovsk have all seen their share prices collapse due to their links to Russian operations. The three are also being deleted from the FTSE Russel indices — but fundamentally, all are solid businesses that would likely rapidly recover if sanctions are lifted.