Keir Starmer has announced his resignation as PM and leader of the Labour Party.

He said every decision he has made in office has been about "putting the country I love first".

Andy Burnham - who could replace the PM - was sworn in as MP for Makerfield in Westminster earlier today, after winning the by-election last week.

Chief investment officer for EMEA at Morningstar Wealth, Mike Coop, stated: "Another change at the top of UK politics is unlikely to materially shift the investment outlook in the near term. Markets tend to look through leadership changes unless they signal a clear break in economic policy, and that doesn’t appear to be the case here. Andy Burnham is currently seen as the leading contender, with little expectation of a significant shift in policy direction.

"Any reaction in sterling or UK assets is therefore likely to be modest and short-lived. It’s also worth remembering that around 75% of revenues for UK-listed companies come from overseas, which provides a natural buffer against domestic political uncertainty.

"The message for investors is to stay disciplined. Well-diversified portfolios remain the most effective way to navigate political noise, and periods of volatility can create opportunities rather than reasons to step back."

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