Andy Burnham set to become U.K. prime minister as investors weigh policy agenda

According to CNBC, Andy Burnham is set to become the U.K.'s seventh prime minister in a decade on Monday, with King Charles due to formally ask him to form a government at Buckingham Palace before his official appointment. Burnham is expected to deliver his first speech as premier and outline his plans for the country, while investors are focusing on his policy agenda after his unopposed rise to lead the Labour Party. U.S. President Donald Trump welcomed Burnham's plan to speed up oil and gas exploration in already-licensed North Sea fields. Rachel Vahey of AJ Bell said Burnham's first budget could include tax reforms and new policies affecting household finances, while Andrew Wishart of Berenberg said the market appears relatively calm but could be unsettled if the new government turns to higher spending or greater gilt issuance.