FTSE set to rise on Conservatives’ strong election result

Reuters | | Updated on: Jan 23, 2018

Britain’s top equity index was set to open up by more than 1 per cent on Friday as Prime Minister David Cameron’s Conservatives looked set to govern Britain for another five years despite falling just short of an outright majority.

Spreadbetters called the FTSE 100 index up by 95-96.6 points, or around 1.4 per cent higher, as the results of the British national election came through.

An exit poll late on Thursday forecast that the Conservatives would win 316 of 650 seats in the Lower House of Parliament and the main Opposition Labour Party 239.

The British Broadcasting Corporation projected that the Conservatives will win an effective majority with 325 seats, just one short of an outright majority.

“The main mover this morning will be the FTSE which will start on a much more positive note than other bourses as exit polls show that the Conservatives are still on course to lead a minority government. However, as writing this call, there is room for change as not all confirmed results are in yet,’’ said Capital Spreads’ night dealer Derek Baker.

Published on May 08, 2015
COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you