'No confidence win changes little': Managers warn markets will remain 'skittish' despite May's victory

Sterling and FTSE 100 rallied on Wednesday

Fund managers have warned investors need to remain flexible despite Prime Minister Theresa May's no-confidence vote win, as it will do little to ease the pressure on markets.

On Wednesday night, the Prime Minister survived a vote of no confidence as leader of the Conservative Party, with the backing of 200 MPs. With just 117 MPs voting against May, this means no further confidence vote can take place for at least 12 months. In reaction, sterling remained steady, finishing the day 1.4% higher against the US dollar at $1.266 while the FTSE 100 was also up, ending 1.3% higher to 6,885 points. The positive news flow throughout Wednesday following 1922 committee chairman Graham Brady's announcement he had received enough letters of no confidence in May boost...