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Evening Standard
Evening Standard
Business
Jonathan Prynn

City financial markets in upbeat mood after Truss resignation

Jeremy Hunt Kwasi Kwarteng

(Victoria Jones/PA)

(Picture: PA Wire)

Shares, gilts and sterling were all in strong demand when it became clear that Liz Truss was to step down as Prime Minister after a period of unprecedented political and market tormoil.

Immediately after the announcement the pound was up around three quarters of a cent at $.1270, while gilt yields were all down as investors looked more favourably on the prospects for UK plc.

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