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UK stocks head for a win as political turmoil drags down the pound

Theresa May is facing pressure to resign after a report that 40 MPs had agreed to sign a letter of no confidence in the prime minister

UK stocks head for a win as political turmoil drags down the pound

UK blue chips stocks marched higher Monday, as the pound fell on reports that British Prime Minister Theresa May is facing pressure to resign. Sterling’s slide drove shares of multinational companies higher and guided the broader market toward a potential win after two losing sessions, MarketWatch reports.

What markets are doing: The FTSE 100 index rose 0.4% to 7,459.67, led by the healthcare, and oil and gas groups. But financial and industrial shares fell. On Friday, the index dropped 0.7% for its second straight loss and its lowest close in six weeks. The London benchmark last week fell 1.7%.

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