British stocks fall after PM resignation

British Prime Minister Keir Starmer announced his resignation from his position and as leader of the Labour Party, signaling the start of a race to select his successor, with official nominations set to begin on July 9. He confirmed that he has informed the King of his decision and highlighted his government's achievements, including reducing NHS waitlists and improving workers' and tenants' rights. Market reactions were limited, with analysts noting that investors are focusing more on developments in US-Iran negotiations than on domestic political changes. The frontrunner to succeed Starmer is expected to be Manchester Mayor Andy Burnham, while market watchers are closely monitoring the choice of a new finance minister to ensure financial stability, amid concerns about how political shifts might impact markets and the broader geopolitical landscape.

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