FTSE 100 rises as Keir Starmer resigns, Andy Burnham likely next UK PM by mid-July

The FTSE 100 index rose 60 points to 10,424 following Keir Starmer's resignation as UK Labour leader, with Andy Burnham poised to become Prime Minister by mid-July if unchallenged. The pound strengthened amid expectations of a smooth leadership transition. Market focus remains on US futures, oil demand affected by rising electric vehicle adoption, and upcoming UK economic data. Investors are cautious due to ongoing geopolitical tensions and potential Federal Reserve rate hikes. The political change adds uncertainty but also optimism for fiscal responsibility under Burnham's leadership.