Ftse rallies as political announcements help to dispel uncertainty

London’s top-flight index rallied towards the closing bell as it was confirmed that Theresa May would be in post as prime minister by tomorrow after rival candidate Andrea Leadsom dropped out of the race.

The Ftse 100 Index soared 92.2 points to 6,682.9 — hitting an 11-month high — amid a flurry of political announcements during the session, which helped to demystify some of the uncertainty dogging the financial markets since Britain voted to leave the EU.

The rise saw the top tier technically enter a bull market after closing more than 20% higher than its low of 5,537 on February 11.