Theresa May to leave Downing Street on June 7 amid Brexit crisis

The UK Prime Minister has announced she will step down from her post after facing pressure from members of her own party, bringing her three-year stewardship of the country to a close.

Theresa May has finally succumb to unrelenting pressure from MPs within her own Conservative party to step down as prime minister, naming June 7 her official departure date.

The move sees May bring an end to her three-year tenure at Downing Street, though she was unable to deliver Brexit during her stint as prime minister, leaving the job to her successor with the Tory leadership race officially underway.

May bids an emotional farewell

In what was an emotional speech outside 10 Downing Street, May said that she had ‘done everything’ in her power to reach a compromise with MPs from within her own party and those across the aisle to secure an orderly exit from the EU.

‘It is and will always remain a matter of deep regret to me that I have not been able to deliver Brexit,’ she added.

But despite failing to deliver Brexit, May said that her time as Britain’s second female prime minister was an honour and she said she would leave ‘with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country I love’.

Boris Johnson bookmakers’ favourite to succeed May

Now that May has announced her departure date from 10 Downing Street, bookmakers' have already placed their bets on Boris Johnson filling her shoes.

Johnson was a prominent figure for the leave campaign in the build up to the Brexit referendum back in June 2016.

In a recent report, US-based investment bank JP Morgan raised its probability of the UK leaving the EU without a deal from 15% to 25% this week.

The bank also believes Johnson will be appointed prime minister, closely followed by a general election and a further delay to Brexit beyond the October 31 deadline.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Trading around Brexit

Find out how the UK’s exit from the EU continues to affect traders, and discover:

  • The unique opportunities in a ‘hard’ and ‘soft’ Brexit
  • The markets you should be watching
  • Everything that’s happened so far

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.