The naming of a new British Prime Minister on Tuesday morning will have a huge impact across global markets ... here's how markets are likely to react:
The naming of a new British prime minister on Tuesday morning will have a huge impact across global markets and the geopolitical landscape.
Stocks that could rise in the long run? A declining pound has boosted the internationally exposed FTSE 100 UKX, +0.08% in recent weeks, a trend that would be likely to continue with a Johnson win. The victor’s stance on rising tensions with Iran in the Middle East could also have an impact, with potential action boosting crude prices and favoring the FTSE 100’s oil majors.
The pound: What happens next? The pound GBPUSD, -0.1523% has endured a bad run of late as the Conservative leadership candidates have ramped up the Brexit rhetoric and heightened the prospect of a no-deal scenario. J.P. Morgan economists said a further Brexit delay — either through an early election or a second referendum — was currently the most likely outcome.
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