UK borrowing costs rise at fastest pace in G7

UK borrowing costs are rising at the fastest pace across the G7. This trend is impacting the FTSE 100, with stocks expected to drop as markets respond to the first full day of Andy Burnham's Labour government. The volatility follows Burnham's decision to appoint John Healey as Chancellor, a move that shocked Westminster and the City on Monday evening, particularly as Healey had previously resigned in protest regarding defence matters and fiscal flexibility.