Business

U.K. Markets Cheer After Liz Truss Resigns

October 25, 2022

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U.K. Markets Cheer After Liz Truss Resigns. 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Updated Oct. 20, 2022 12:30 pm ET / Original Oct. 20, 2022 8:45 am ET

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British investors cheered the resignation of Prime Minister Liz Truss, whose recent budget plans disrupted markets and prompted intervention by the Bank of England.

Stocks, bonds, and the pound crept higher early Thursday as rumors swirled in U.K. media that Conservative Party lawmakers were pressuring their leader to exit Number 10 Downing Street. A flurry of buying came shortly after 1:30 p.m. London time, when Truss confirmed in a press conference that she would resign as prime minister after just 45 days on the job—making her the shortest-tenured British leader in history.

U.K. Markets Cheer After Liz Truss Resigns. Stocks, Bonds, and the Pound Gain.

British investors cheered the resignation of Prime Minister Liz Truss, whose recent budget plans disrupted markets and prompted intervention by the Bank of England.

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