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.

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 9.49am GMTPub chain JD Wetherspoons is another winner this morning, jumping by 10% this morning. 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. Continue reading…