Australian stocks with UK business are rallying

Fedor Konyukhov lifts off in his balloon today from Northam, Western Australia, at the start of an attempt to circumnavigate the globe without touching down in under 13 days. The current record of 13.5 days was set by US aviator Steve Fossett in 2002. Paul Kane/Getty Images

Australian stocks with exposure to the UK are rising again after the question of who will be the next British prime minister was settled.

Home secretary Theresa May will become the next prime minister of the UK on Wednesday.

In Australia, CYB, the NAB spinoff of its UK bank Clydsdale, was up 3.5% to $4.14.

And BT Investments, with a large portfolio in the UK and Europe, added 3% to be trading at $8.03.

Iress, which provides infrastructure to the global funds management industry across the commonwealth and has a business in the UK, is up 2.9% to $11.18.

The Henderson group, the global investment management company based in London, was trading 3.7% higher at $3.76.

The local market is performing strongly for the second session in a row with Wall Street’s S&P 500 at 2137.16, up 0.3%, a record high.

A short time ago, the ASX 200 was at 5,382.80, up 45.70 points or 0.86%, adding to the 2.04% rise of yesterday.

The major banks again added weight with Westpac up 1.6% to $29.67.

BHP added 1.9% to $19.98.

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