by Jrg Billina, uro on Sunday
An Wednesday Boris Johnson declared in parliament that he wanted to continue leading the country through difficult times. Prior to this, prominent ministers, including Finance Minister Rishi Sunak, and state secretaries resigned. Numerous members of the Tories had again sharply criticized Johnson’s erratic leadership style and his handling of the truth. British media reported Thursday morning that Johnson was stepping down as leader of the Conservative Party. He wants to remain prime minister until the fall. Observers considered this unfeasible. By the time this issue went to press, no final decision had been made.
Investors also consider the prime minister unsuitable for the office. The London stock exchange reacted to its foreseeable political end with slight price gains. The FTSE 100 is down just four percent year-to-date, significantly less than the S&P 500. Oil companies such as Shell and BP are prominently represented in the leading British index. Value stocks such as the tobacco company BAT are also heavily weighted.
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Image Credits: Jack Taylor/Getty Images
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