Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News


Markets ‘confident’ as Rishi Sunak set to become U.K.’s Prime Minister

FTSE 100 seems to be regaining some momentum on Monday as Rishi Sunak won the race to become the next Prime Minister of the United Kingdom.

Gilt yields are trending down

Earlier today, rival candidate Penny Mordaunt withdrew from the contest clearing way for Sunak to take the office. Boris Johnson had pulled out a day earlier as well.

King Charles will now officially appoint Sunak as the Prime Minister of the United Kingdom in the coming days. Gilt yields were trending down this morning suggesting confidence in the new leader. Danni Hewson – Financial Analyst at AJ Bell said:

Markets are confident that they know the kind of Prime Minister Rishi Sunak will be. Yields have come down, [suggesting] markets feel that once against the U.K. is getting back to [what] they would expect from an established economy.

Sunak will be U.K.’s third Prime Minister in two months and first of color in its history.

Expectations are high

Sunak, of course, has a massive task on hand of restoring both political and economic stability in the United Kingdom as he fills the shoes for Liz Truss who cost at least $500 billion to the UK markets in her 44 days in the office (detailed here).

Expectations are particularly high since he’s formerly served as the Chancellor of the Exchequer and was central in steering the British economy through the pandemic. According to Susannah Streeter – Senior Investment & Markets Analyst at Hargreaves Lansdown:

With his experience as a hedge fund manager and the time he’s spent in California, right in the heart of the big tech industry, he’ll be expected to give a rocket boost to home grown tech talent. This will be no quick fix, though.

The post Markets ‘confident’ as Rishi Sunak set to become U.K.’s Prime Minister appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Tele2 AB today announces a new partnership with security experts EBS to deliver a secure and managed IoT connectivity solution. Tele2 will support EBS...


    Anyone who has filled up the tank of their car this year will be aware of the rollercoaster ride that the price of oil...

    Latest News

    Sen. Patrick Leahy “was not feeling well” on Thursday and was admitted to the hospital overnight for observation, his office said in a statement....

    Latest News

    Joe Manchin is forcing Democrats into a brutal choice: Take a deal now to lower the costs of health care premiums and prescription drugs,...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023