UK stock market rally accelerates after election – business live
Rolling coverage of the latest economic and financial news
- Latest: UK PMIs show economy struggling in December
- PMI falls to 48.5, showing sharpest contraction in 41 months
- Factories suffer worst month since 2012
Earlier:
- European stocks hit record high
- Introduction: US-China trade deal lifts markets
- End of political paralysis in UK
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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