![\"Andy](\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/06\/Andy-Burnham-Labour-e1769443630985.jpg\")
\t\t\t<\/p>\n\t\t\tMonday 29 June 2026 6:40 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tMonday 29 June 2026 9:44 am\n\t<\/p>\n
\t\t\t<\/p>\n
Good morning from the City AM liveblog team.<\/p>\n
Stock markets wobbled on Monday as the US and Iran Iran \u200bagreed to halt recent hostilities in the Gulf and renew talks over their dispute over the Strait of Hormuz.<\/p>\n
Talks are expected to resume on Tuesday, officials said, but any halt on hostilities is regarded as precarious by markets.<\/p>\n
Overnight brent crude edged back above $72 per barrel on Monday, recovering from four-month lows, while Asian markets fell, led by Japan\u2019s Nikkei, which was down around one per cent.<\/p>\n
Meanwhile, Labour PM-in-waiting Andy Burnham is poised to give his first big set-piece speech<\/a> today after winning in the Makerfield by-election, offering an early glimpse into what his government could look like.<\/p>\n \u00a0Burnham<\/a>\u00a0will say that a 10-year plan will focus on devolution of power away from London with an emphasis on \u201creindustrialisation\u201d and housebuilding to boost living standards.\u00a0<\/p>\n He will also say that decision-making will be \u201cpushed to regions and local communities\u201d, with the a new political system to replace the \u201ccentralised, top-down model with locally driven economic growth\u201d in an echo of former Prime Minister Boris Johnson\u2019s \u201clevelling up\u201d mission to boost growth in the North.<\/p>\n But the speech notwithstanding, all eyes across City trading floors and desks in Westminster remain focused on the question of Burnham\u2019s pick as Chancellor and their tax and spend plans.<\/a><\/p>\n ~<\/p>\n Here\u2019s a summary of our top headlines from over the weekend:<\/p>\n \t\t\t\t\tRead more<\/p>\n