UK equities remained firmly higher on Thursday despite fresh political upheaval following the resignation of Health Secretary Wes Streeting from the government.
The FTSE 100 was up 0.4% during afternoon trading, while the more domestically focused FTSE 250 gained 0.8% as investors appeared to look beyond the latest developments in Westminster.
Markets were supported by stronger-than-expected UK economic growth data earlier in the session, alongside continued strength in financial and industrial stocks.
Streeting’s resignation adds further pressure on Prime Minister Keir Starmer amid ongoing speculation over Labour Party leadership stability, though investors so far appear more focused on economic data, corporate earnings and global market momentum than short-term political uncertainty.
In his resignation letter to Prime Minister Keir Starmer, former Health Secretary Wes Streeting said he had “lost confidence” in Starmer’s leadership following Labour’s heavy losses in last week’s local elections.
Streeting cited the government’s declining popularity and accused Starmer of failing to articulate a convincing long-term vision for the country.
Calling for a leadership contest, Streeting argued that it had become “clear” Starmer would not lead Labour into the next general election and said both Labour MPs and trade unions wanted the debate over the party’s future to focus on “ideas, not personalities or petty factionalism.”
He added that any contest should be broad and competitive, involving the strongest possible field of candidates, and urged Starmer to facilitate the process.
