Tuesday, 24th September: A unanimous decision was made in court on Tuesday morning, ruling Johnson’s behaviour as unlawful when approaching Queen Elizabeth with the suggestion of suspending parliament. All of the 11 justices present at the hearing agreed on the ruling
The ruling resulted in a louder protest against Johnson’s position in parliament from opposition leaders who demanded for his resignation, but it also caused sterling to rise circa 0.4% in the morning to around $1.2481, giving investors some relief.
On the blue-chip index there were no significant gainers, but TUI was at the top and further benefiting from the collapse of Thomas Cook, although some argue it will take longer for them to realise any actual benefits as the group still face challenges as the travel industry as a whole continues to struggle.
Irn-Bru owner A G Barr was at the top end of the FTSE 250 on Tuesday regardless of a forecast 20% drop in full-year profits which was announced in July along with an unexpected profit warning. Investors instead focused on the fizzy-drink makers’ ability to prevent the results being worse than what is expected.
After closing 0.26% lower yesterday, the FTSE 100 failed to reverse any of the damage as it closed lower again today by 0.47% to 7291.43.