The new date is Jul 7, 2022.
The British pound jumped against the U.S. dollar on Thursday morning after media reported that Prime Minister Boris Johnson was about to resign.
Boris Johnson is expected to step down as Britain's prime minister.
The pound rose against the dollar following the news of the resignation.
Although the U.K. stock markets had not previously reacted to the political drama, the London Stock Exchanges marquee index was up more than 1% in morning trading.
The mid-cap focused index rose more than 1%.
The resignation of Boris Johnson as UK PM will breathe a sigh of relief for UK investors as it curbs the uncertainty of a government in name only.
The country's international trade minister is the favorite to replace Johnson as the leader of the conservative party with odds of 5/1. The former Chancellor of the Exchequer is close behind.
Boris Johnson will step down as leader of the Conservative Party, according to reports. Johnson will stay as Prime Minister until his party chooses a new leader. Over the past few months, Johnson has been besieged by a number of scandals including his handling of sexual misconduct allegations against a colleague and reports of multiple parties at 10 Downing Street. Several senior ministers resigned from their positions this week as they questioned Johnson's ability to serve as prime minister. As he appointed replacements for cabinet seats, Johnson appeared combative and refused to step down. The tide appeared to turn against Johnson on Thursday as one of his new appointees resigned after just 48 hours and his newly appointed chancellor urged him to resign.
The U.K. Prime Minister is said to be stepping down after the government quits.
As the U.K. selects a new prime minister, here's what will happen next.
All Rights Reserved © 2024
