London stocks lower as Theresa May prepares for exit
The UK’s political tectonic plates are shifting and the country could have a new Prime Minister in less than a month after Theresa May agreed to discuss the timetable for her departure in early June.
Share this:
The UK’s political tectonic plates are shifting and the country could have a new Prime Minister in less than a month after Theresa May agreed to discuss the timetable for her departure in early June. This coupled with increasing hostility from China in the wake of the US ban on Huawei and the ramp up in trade tariffs is keeping the FTSE firmly in the red.
Just Eat dropped to the bottom of the FTSE 100 after Amazon agreed to back rival Deliveroo with $575 million worth of funding. Smaller rivals were also hit as Amazon positions itself in the fast growing food delivery market.
Pound nudges lower with politics as the dominant driver
Currency moves are fairly delicate this morning with the pound slightly weaker against the dollar and the euro. The two main prompts for the decline came from data showing that car sales in Britain declined by over 4% in April compared with German car sales which were down 1.1%, and from unsuccessful domestic political wrangling.
European elections will inject more volatility into currency trading next week especially as polls show that the Liberal Democrats are in the lead to win the vote.
Oil firmer, possibly for months ahead
Brent crude is again flirting with the $73 mark this morning, trading up 0.37% since the market opened but just a touch below yesterday’s highs. The rising tensions in the Middle East and the drone attacks on Saudi facilities earlier this week are fueling a market which has already been rendered tighter than usual by sanctions on Venezuela and Iran.
Just Eat dropped to the bottom of the FTSE 100 after Amazon agreed to back rival Deliveroo with $575 million worth of funding. Smaller rivals were also hit as Amazon positions itself in the fast growing food delivery market.
Pound nudges lower with politics as the dominant driver
Currency moves are fairly delicate this morning with the pound slightly weaker against the dollar and the euro. The two main prompts for the decline came from data showing that car sales in Britain declined by over 4% in April compared with German car sales which were down 1.1%, and from unsuccessful domestic political wrangling.
European elections will inject more volatility into currency trading next week especially as polls show that the Liberal Democrats are in the lead to win the vote.
Oil firmer, possibly for months ahead
Brent crude is again flirting with the $73 mark this morning, trading up 0.37% since the market opened but just a touch below yesterday’s highs. The rising tensions in the Middle East and the drone attacks on Saudi facilities earlier this week are fueling a market which has already been rendered tighter than usual by sanctions on Venezuela and Iran.
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
AUD/USD Q4 Outlook: RBA and Fed Hikes Set the Tone
AUD/USD enters Q4 with RBA and Fed hikes in focus as sticky inflation, rising unemployment and US dollar strength shape the Australian dollar.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
Japanese Yen Forecast: USD/JPY 4% Rally Challenges Post-Intervention Downtrend 9 24 2026
USD/JPY momentum has shifted sharply higher, putting a major resistance confluence in focus as U.S. and Japanese event risk builds.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.