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| Version 1 | Version 2 |
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| Pound rallies further on May victory | Pound rallies further on May victory |
| (about 1 hour later) | |
| The pound rose above $1.31 as markets welcomed the removal of uncertainty from the Conservatives' leadership contest, with Theresa May set to be the new prime minister. | |
| Sterling rose more than 1% against the dollar to $1.3149, and was 0.6% higher against the euro at €1.1826. | Sterling rose more than 1% against the dollar to $1.3149, and was 0.6% higher against the euro at €1.1826. |
| The FTSE 100 hit fresh 11-month highs on Tuesday, and stood 6.96 points higher at 6,689.82. | The FTSE 100 hit fresh 11-month highs on Tuesday, and stood 6.96 points higher at 6,689.82. |
| Shares in property-related stocks continued their recent recovery. | Shares in property-related stocks continued their recent recovery. |
| The sector saw a sharp sell-off in the wake of the UK's vote to leave the EU, but has recovered some ground in the past couple of trading sessions. | The sector saw a sharp sell-off in the wake of the UK's vote to leave the EU, but has recovered some ground in the past couple of trading sessions. |
| The property sector received a further boost from Galliford Try on Tuesday, when the housebuilder said it still expected full-year profits to be in line with expectations. | The property sector received a further boost from Galliford Try on Tuesday, when the housebuilder said it still expected full-year profits to be in line with expectations. |
| Shares in Galliford Try rose 6.4%, and property-related stocks dominated the top risers on the FTSE 100, with Taylor Wimpey up 6.5% and Barratt Developments 5.7% higher. | Shares in Galliford Try rose 6.4%, and property-related stocks dominated the top risers on the FTSE 100, with Taylor Wimpey up 6.5% and Barratt Developments 5.7% higher. |
| The more UK-focused FTSE 250 index rose 204.55 points, or 1.2%, to 16,910.94. | The more UK-focused FTSE 250 index rose 204.55 points, or 1.2%, to 16,910.94. |
| "Theresa May's virtual 'coronation' as prime minister has delivered a boost to the pound as the clouds of uncertainty following the Brexit vote start to disperse," said Neil Wilson, markets analyst at ETX Capital. | "Theresa May's virtual 'coronation' as prime minister has delivered a boost to the pound as the clouds of uncertainty following the Brexit vote start to disperse," said Neil Wilson, markets analyst at ETX Capital. |
| "The leadership question has been settled and two months earlier than markets had been anticipating. This is feeding into strong bids for sterling and property stocks as investors eye potential bargains." | "The leadership question has been settled and two months earlier than markets had been anticipating. This is feeding into strong bids for sterling and property stocks as investors eye potential bargains." |