The FTSE 100 is up for a second consecutive day, gaining 0.7% on Thursday morning, as a BBC report announced that Boris Johnson would resign as leader of the Conservative Party during a speech later today.
The British Prime Minister has been weakened by a number of departures in his government. He is expected to remain in office at Downing Street until next autumn.
Oil & gas stocks perform best, with Shell up 2.3% after the oil major said it would reverse previous write-offs of up to £3.8 billion this quarter due to the surge in energy prices.
Meanwhile, housebuilder Persimmon tumbled 5.8% after it warned that the number of homes it delivered in the first half was lower than expected.
Things to read today:
US Bond market flashes warning signal of economic slowdown (Financial Times)
Inflation Fears Drove Larger Fed Rate Increase in June (WSJ)
Who Would Replace Boris? (Bloomberg)