Keir Starmer's anticipated resignation comes amid growing pressure from within his party and external commentary from U.S. President Donald Trump, who suggested Starmer would step down. This follows Starmer's struggles to maintain leadership confidence after significant local election losses.
As a result, the British pound has weakened against the dollar, and investors are closely monitoring the U.K. gilt market for further developments.
In a separate geopolitical context, a 60-day roadmap for a peace deal between the U.S. and Iran was agreed upon during negotiations in Switzerland, which has led to a decrease in crude oil prices and increased tanker traffic through the Strait of Hormuz. However, U.S. stock futures are down as Wall Street returns from a long weekend, indicating a mixed sentiment in the markets.
Additionally, Pixar's 'Toy Story 5' has achieved a record opening weekend, generating $160 million, which highlights the ongoing strength of Disney's franchise despite broader market uncertainties