European stocks rose on Wednesday, with the Stoxx 600 index up 0.7%, as UK gilt yields fell after Prime Minister Keir Starmer defied calls to quit office.
Rolling coverage of the latest economic and financial newsStarmer on the brink as cabinet ministers urge him to quitGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Another UK political crisis is looming over the City of London today, as prime minister Sir Keir Starmer faces more calls to set out a timetable for his departure.With a Cabinet meeting expected this morning, today could be a big day in determining Starmer’s future.In response to the uncertainty, 10-year UK gilt yields rose +8.6bps to 5.00% yesterday, whilst the 30-year yield rose +9.3bps to 5.67%, given expectations that a new Labour leader may face pressure to ease the fiscal rules and raise gilt issuance. Continue reading...
