UK: All eyes on politics - TDS

In view of analyst at TD Securities, today all eyes will be on UK politics as Conservative Party MPs have reportedly written enough letters to trigger a leadership confidence vote in May.

Key Quotes

“If so, a vote would likely be held within days, and if she loses, a new Prime Minister selected in the coming weeks (it's possible the party would wait until after Christmas, but it's not clear how flexible they can be to the rules).”

“Electing a new party leader could take anywhere from 2 weeks to 6 weeks, all told. May is reportedly meeting the party chair after PMQs around 1pm, so we could have an announcement in the early afternoon, or it's possible that the rumours are untrue.”

“The real danger now is that if reports Tuesday are accurate, it is both Leavers and Remainers who have turned on her, a stark contrast to earlier rumours of leadership challenges, when it was primarily the Leavers upset with her policy.”