Sat. Jan 23rd, 2021

FTSE 250 rockets to record high as banks, housebuilders and utilities surge – business live

Shares and sterling are rallying as the financial markets react to the Conservative Party’s election triumph

2.59pm GMT

The surge in the UK stock market today is good news for some of Britain’s billionaire bosses.

Executives with large stakes in their companies saw their net worths spike, as the possibility of a Labour government receded. Several are notable Brexit supporters.

Peter Hargreaves, one of Brexit’s biggest supporters, has plenty to celebrate.

The Conservative Party’s victory didn’t just make Britain’s departure from the European Union certain. It also provided a $300 million boost to his fortune on Friday as investors welcomed the result.

“The 16 Brits on the Bloomberg Billionaires Index – including Jim Ratcliffe and James Dyson – added around $2.8 billion to their combined net worth on Friday.”

2.47pm GMT

The Wall Street Journal is denying that its trade story was wrong….

Chinese briefing on the US/China trade negotiations is getting delayed until 10 EST. P.s. I’m still hanging in here despite being attacked on Twitter by the leader of the free world. I stand by my reporting, every word of it.

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