NEWS & VIEWS

UK markets gain on clear Tory majority in the UK election

The clear victory of the Conservative party in the UK general election has significantly reduced the levels of uncertainty over the next steps for the UK, both politically and economically. The pound was up 2.5% as the exit poll emerged on Thursday night which indicated a decisive win for the Tory party. UK stocks have risen across the board, partly aided by President Trump indicating that a US-China phase-1 trade deal would be signed imminently. By mid-Friday morning the FTSE 100 was up around 1.8 per cent, and the more UK-focussed FTSE 250 by 4.3 per cent. Utility and banking stocks soared, with National Grid up 7 per cent and Lloyds Banking Group up 12 per cent. Housing stocks also gained

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