The announcement that Theresa May will become prime minister sent the FTSE 100 into bull territory on Monday (11 July).
The FTSE 100 rose more than 20 per cent from the three-year low hit in February on 11 July after Andrea Leadsom abandoned her campaign to become Conservative party leader making Ms May the UK’s first female prime minister in 26 years.
Simon Morris, a financial services partner with law firm CMS, said: “Uncertainty destroys investment, and the City will welcome the early resolution of the ‘Next PM’ question as a near-term contributor to stability.
“But far more hinges on resolving the ‘Whatever Next?’ conundrum.
Theresa May is viewed as a safe pair of hands to tackle the immense task of reconciling popular anti-EU sentiment with the near-impossibility of replicating anything as City-friendly as EU membership.”
Ms May has said “Brexit means Brexit and we are going to make a success of it.”
