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
- Wetherspoons and BT also among big risers
- Introduction: It’s Blue Friday in the City
- Sterling hits 18-month high vs US dollar
Credit insurance firm Euler Hermes has hiked its forecast for the UK economy next year.
But it also believes an EU trade deal will take longer to agree than Boris Johnson claimed:
The resounding Conservative victory leads to three conclusions for the markets, says Olivier Konzeoue, FX Sales Trader at Saxo Markets:
Uncertainty has been removed, 10 Downing Street will be able to take care of the UK Economy, capital inflows should therefore gradually resurface, but much remains to be done with regards to achieving a trade deal with Europe and the fundamental data we have seen slowing down over the last year will potentially materialise in the coming months.
In short, the result is positive for markets, but patience will be key from now on.”