Markets react positively as nomination deadline for Conservative leadership looms; China’s economy grows faster than expected but lags official target
Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.
The deadline for the Conservative leadership – and the UK’s next prime minister – are looming, and markets are taking note.
In the UK, the focus continues to remain on the chaos which is taking place in the UK’s government. Because Boris Johnson understood that his chances of winning the support of the Conservative Party were thin, Rishi Sunak became the favourite among bookies to lead the way out of its misery.
Sterling is likely to build more strength as Sunak is a person who comes from the finance department, and as an ex-finance minister, he knows what the country needs without harming its reputation in front of the IMF and others. All eyes are going to remain on sterling and gilts.
9am BST: Flash PMIs Eurozone manufacturing and services sectors
9:30am BST: Flash PMIs for UK’s manufacturing and services sectors
2:45pm BST: Flash PMIs for US manufacturing and services sectors
