Yesterday, the London index added 1.0% as it reopened after a long bank holiday for the Queen’s Platinum Jubilee, after China eased Covid restrictions in Beijing.

Prime Minister Boris Johnson survived a vote of no confidence yesterday evening, but with a smaller margin than many expected. The vote, 211 to 148, fell short of the majority of Tory lawmakers that was needed to remove Mr. Johnson from power. However, it shows that its grip on the party eroded since last year’s party gate, when it was revealed that he threw parties at 10 Downing Street during lockdowns.

Investor are keeping an eye on inflation data, ahead of a meeting from the European Central Bank on Thursday. Rate decisions are also due from the Bank of England and U.S. Federal Reserve's next week.

Among stocks, Ted Baker dropped 19.3% after the preferred bidder for the retail chain pulled out of the acquisition process.

Meanwhile,  JD Sports Fashion dipped 2.1% after the UK's competition watchdog provisionally found that JD Sports, Elite Sports and the Rangers Football Club fixed retail prices of certain products.

 

Things to read today:

Weakened Boris Johnson scrapes through after damaging confidence vote (Financial Times)

Inflation Is Poised to Ease According to These Three Key Indicators (Bloomberg)