FTSE 100 Live: Stocks to drop; borrowing costs rise on Burnham’s ‘fiscal flexibility’

Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday morning and the markets are waking up to the first full day of Andy Burnham’s Labour government. Burnham shocked Westminster and the City on Monday evening when he appointed John Healey as his Chancellor, just weeks after he had resigned in protest as defence…