UK’s prime minister keeps taking punches over the Brexit discussions
This is where indecisiveness gets ya. Pound tumbles, as Teresa May starts feeling the heat – 40 conservative MPs signed a letter of no confidence in May. That’s only 8 less than what is needed to trigger a leadership change.
That got the FTSE 100 a leg up, but the whole picture in Europe was bleak. The Stocks 600 also dropped.
Earlier in Asia local stocks deepened their decline from the past few days. The Chinese ones got a bit of a good run though.
For the rest of the week we expect UK inflation data, the labor market and retail sales. British assets are in for a bumpy ride.