![\"FTSE](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/f206660ef61a4462a9ddd231e219a119.jpeg\")
FTSE 100 Live: London stocks fall, gilt yields rise as Burnham eyes Westminster Proactive uses images sourced from Shutterstock <\/p>\n FTSE 100 Live: London stocks fall, gilt yields rise as Burnham eyes Westminster Proactive uses images sourced from Shutterstock <\/p>\n
FTSE 100 declines 80 points to 10,293<\/p>\n
10-year gilt yield rises 0.122%<\/p>\n
Brent crude tops $107\/bbl<\/p>\n
Gold falls 1.4% on inflation jitters<\/p>\n
8.15am: Shaky start for equities and gilts <\/p>\n
The FTSE 100 tumbled at the open, and gilt yields rose after Greater Manchester Mayor Andy Burnham said he would plan to stand in the Makerfield by-election, which would set him on course to challenge Prime Minister Keir Starmer in a leadership contest.<\/p>\n
Shortly after the open, the blue-chip index was down 80 points at\u00a010,293.35.\u00a0The benchmark 10-year gilt rose 0.122% to\u00a05.114%.<\/p>\n
Miners including\u00a0Fresnillo PLC (LSE:FRES)<\/a>,\u00a0Antofagasta PLC (LSE:ANTO)<\/a>,\u00a0Anglo American PLC (LSE:AAL)<\/a>\u00a0and\u00a0Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2)<\/a>\u00a0led the decline on the FTSE 100, shedding between 3.3% and 5.2% as metals prices came under pressure. Gold has eased back 1.4% to $4,586.42 an ounce on rising inflation fears.<\/p>\n On the upside,\u00a03i Group PLC (LSE:III)<\/a>\u00a0has jumped 3%, and\u00a0Diageo PLC (LSE:DGE)<\/a>\u00a0is up 0.9%.<\/p>\n Oil majors\u00a0BP PLC (LSE:BP.)<\/a>\u00a0and\u00a0Shell PLC (LSE:SHEL, NYSE:SHEL)<\/a>\u00a0are also rising on a firmer oil price after US President Donald Trump said the US \u201cdoesn\u2019t need the Strait of Hormuz open.\u201d\u00a0Brent crude is up 1.7% at\u00a0107.52.<\/p>\n 7.45am: Bond markets on alert <\/p>\n With gilt yields near multi-year highs, the market will be watching closely as a leadership contest looks increasingly likely.\u00a0The 10-year gilt yield rose above 5.1% this week,\u00a0its highest since 2008,\u00a0while 30-year borrowing costs briefly hit levels last seen in 1998. Goldman Sachs has warned that rising yields and weaker growth could wipe around \u00a312 billion from Rachel Reeves’ fiscal headroom.<\/p>\n “For gilt markets, there\u2019s been a focus on Burnham\u2019s candidacy, in part as he said last year that the UK shouldn\u2019t be ‘in hock to the bond markets’,” Deutsche Bank’s Jim Reid said. “Moreover, Burnham suggested last week that defence spending could be considered outside the fiscal rules, which added to speculation about more gilt issuance under a Burnham premiership.”<\/p>\n Reid noted that the Burnham news\u00a0came out after gilt markets had closed yesterday, but the pound weakened sharply in response, ending the day 0.89% lower against the US dollar, making it the worst-performing G10 currency yesterday. And this morning it\u2019s down a further 0.22% to $1.3373.<\/p>\n 7.20am: FTSE 100 called lower as political drama builds <\/p>\n London is set for a rough open, with the FTSE 100 called down 87 points after closing 47 points higher at 10,372 on Thursday. The domestic political drama is showing no signs of letting up.<\/p>\n The latest twist is Andy Burnham. As Deutsche Bank’s Jim Reid puts it: “The last 24 hours have brought many headlines, but the biggest is that Greater Manchester’s Mayor Andy Burnham is seeking to return to Parliament. He now has a path to do so, because an MP in the region announced he’d be standing down to trigger a by-election, which Burnham has said he’ll try to stand in. So if he’s successful and becomes an MP, that would mean he could challenge for the party leadership to become Prime Minister.”<\/p>\n That follows a turbulent Thursday in which Health Secretary Wes Streeting resigned from cabinet and called on Starmer to facilitate a leadership contest with “the best possible field of candidates,” telling the Prime Minister directly: “It is now clear that you will not lead the Labour party into the next general election.”<\/p>\n The picture was brighter overnight, as US stocks powered higher, with the Dow, S&P 500 and Nasdaq all gaining around 0.8-0.9%, the latter hitting a fresh record as AI enthusiasm roared back into the market. Futures suggest further gains today.<\/p>\n Asian markets are mostly lower this morning. Tokyo’s Nikkei has fallen 2.5% on inflation fears and rising rate expectations, while Hong Kong’s Hang Seng is down 2% and Shanghai has slipped 1.3%. Seoul’s Kospi has taken the biggest hit, down over 6% as foreign investors dump technology stocks. Sydney’s ASX 200 ended marginally lower.<\/p>\n \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"FTSE 100 Live: London stocks fall, gilt yields rise as Burnham eyes Westminster Proactive uses images sourced from…\n","protected":false},"author":2,"featured_media":36940,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[26],"tags":[16618,7786,18182,18180,18183,320,12745,5167,18181,27,2934],"class_list":["post-36939","post","type-post","status-publish","format-standard","has-post-thumbnail","category-london","tag-3i-group-plc","tag-andy-burnham","tag-anglo-american-plc","tag-antofagasta-plc","tag-fresnillo-plc","tag-ftse-100","tag-gilt-yields","tag-jim-reid","tag-leadership-contest","tag-london","tag-prime-minister-keir-starmer"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116577581359566450","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/36939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=36939"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/36939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/36940"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=36939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=36939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=36939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}