Wed. Jan 27th, 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

9.49am GMT

Pub chain JD Wetherspoons is another winner this morning, jumping by 10% this morning.

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.

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