UK stocks climb more than 1% after Boris Johnson quits as PM - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 7/7/2022 3:18 PM
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UK stocks climbed on Thursday, with the domestically focussed FTSE 250 index hitting a one-week high, after BorisJohnson announced he would quit as British prime minister after he dramatically lost the support of his ministers.

Sterling was last up 0.5% against the dollar, roughly where it was trading before Johnson resigned.

“The question was the timing that now happened a bit sooner than was generally expected, but the outcome was not a huge surprise,” Jonas Goltermann, senior markets economist at Capital Economics, said.

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