Tue. Sep 29th, 2020

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

11.52am GMT

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:

11.32am GMT

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.”

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 highWetherspoons and BT also among big risersIntroduction: It’s Blue Friday in the CitySterling hits 18-month high vs US dollar 11.52am GMTCredit 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: 11.32am GMTThe 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.” Continue reading…