Less than two years after securing one of the Labour party’s largest parliamentary majorities, Prime Minister Keir Starmer resigned from his position this morning, a move that had been widely expected. A combination of weak approval ratings, losing seats in the local elections and mounting concerns over Labour’s strategic direction ultimately eroded confidence in his leadership. From a market perspective, the immediate impact is likely to be limited for now, provided the transition of power to the new leader remains orderly.
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