UK Shares Gain as Boris Johnson Becomes PM
The FTSE 100 advanced 46 points, or 0.6%, to 7,560 on Tuesday afternoon as Boris Johnson was confirmed as the new leader of the Conservative party and will become Britain's prime minister on Wednesday. Also, other major stock indexes rallied supported by renewed optimism surrounding trade negotiations, hopes for ECB policy easing and better-than-expected quarterly earnings from AMS, Logitech, UBS and Santander. Auto shares were also among the best performers after Morgan Stanley upgraded BMW stock. The DAX 30 jumped 1.7%, the CAC 40 gained 1%, the IBEX 35 added 1.4%, and the FTSE MIB rose 0.9% around 1 PM London time.
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