UK stock market rally accelerates after election – business live

Rolling coverage of the latest economic and financial news

Earlier:

1.49pm GMT

Here’s our news story on the UK”s higher borrowing forecasts, and the deterioration in the UK economy this month:

Related: Boris Johnson’s tax plans face squeeze as public finances worsen

1.20pm GMT

America’s S&P 500 and Nasdaq indices are expected to hit fresh record highs when trading begins in just over an hour’s time.

Relief that the US and China have agreed a preliminary trade deal (although it’s not signed and sealed yet) is lifting the mood on Wall Street.

US Opening Calls:#DOW 28213 +0.27%#SPX 3186 +0.53%#NASDAQ 8539 +0.59%#RUSSELL 1650 +0.76%#FANG 2940 +0.65%#IGOpeningCall @IGSquawk

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