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
- Latest: UK stock market jumps
- FTSE 250 hits all-time high
- Introduction: It’s Blue Friday in the City
- Sterling hits 18-month high vs US dollar
- The mood on the trading floor
9.32am GMT
Utility stocks on the Footsie are a mighty 7% higher this morning, as the nationalisation threat lifts.
Bank stocks are up 3.5% — traders are concluding that the Bank of England is much less likely to cut interest rates soon.
9.28am GMT
Telecoms firm BT is also among the top risers, gaining 7%.
BT had faced the prospect of seeing its wholesale network nationalised if Labour had won power, for Jeremy Corbyn’s offer of free broadband.
Continue reading…Shares and sterling are rallying as the financial markets react to the Conservative Party’s election triumphLatest: UK stock market jumpsFTSE 250 hits all-time highIntroduction: It’s Blue Friday in the CitySterling hits 18-month high vs US dollarThe mood on the trading floor 9.32am GMTUtility stocks on the Footsie are a mighty 7% higher this morning, as the nationalisation threat lifts.Bank stocks are up 3.5% — traders are concluding that the Bank of England is much less likely to cut interest rates soon. 9.28am GMTTelecoms firm BT is also among the top risers, gaining 7%.BT had faced the prospect of seeing its wholesale network nationalised if Labour had won power, for Jeremy Corbyn’s offer of free broadband. Continue reading…
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