Theresa May Leads After 1st Round Of U.K. Conservative Leadership Vote

British Home Secretary Theresa May led rivals in the race to succeed David Cameron as leader of the U.K. Conservative Party--and prime minister--after the first round of voting by Conservative lawmakers on Tuesday, news reports said. May, who had supported the "remain" camp in the late-June referendum that saw U.K. citizens vote to leave the European Union, won the support of 165 colleagues in the first ballot, easily outdistancing her closest rival, Andrea Leadsom, who received 66 votes. Justice Minister Michael Gove received 48 votes, while Stephen Crabb won 34 and Liam Fox garnered 16. Fox dropped out of the running, Sky News reported. The candidates have until Wednesday to decide whether to participate in a second ballot on Thursday, followed by a final round of voting next week. The British pound continued to trade near a 31-year low, changing hands at $1.3049 in recent action.

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