British banks, homebuilders surge after Conservative victory
Equity strategists at Citi said the U.K. election result “is probably as good as it gets.” While Conservatives had led in polls since the election was called, it wasn’t clear beforehand that they would win a majority in Parliament. Read more about the election.
The FTSE 250 MCX, +4.18% climbed 3.9% to 21609.70. Investment managers, real estate investment trusts and home builders led the way as investors flocked to stocks more exposed to the domestic economy. Double-digit gainers included lender Virgin Money UK VMUK, +15.01%, construction product supplier SIG SHI, +3.11% and electronics retailer Dixons Carphone DC, +7.96% .The surge in the pound GBPUSD, +1.6940% was a drag from companies that generate most of their revenue outside the U.K.
Large-cap advancers included home builders Persimmon PSN, +11.14%, Taylor Wimpey TW, +13.24%, Berkeley Group BKG, +9.44% and Barratt Developments BDEV, +9.36%. U.K. banks Royal Bank of Scotland RBS, +10.76% and Lloyds Banking Group LLOY, +6.38% also surged. The yield on the benchmark 10-year gilt TMBMKGB-10Y, +3.89% rose 5 basis points to 0.86%. Prices move in the opposite direction to yields.
Steve Goldstein Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
UK PM Johnson's Conservatives have won a majority: ITVBritish Prime Minister Boris Johnson's Conservatives have won an outright m...
Consulte Mais informação »
Sterling surges 2% as UK exit poll projects a large majority for Boris Johnson's Conservative PartyMarkets had largely priced in a majority for the Conservative Party, with speculative sterling shorts significantly reduced in recent months.
Consulte Mais informação »
Pound surges as U.K. exit poll predicts strong Boris Johnson victoryThe pound is surging after exit polls suggested an 86-seat majority for Boris Johnson’s Conservative Party.
Consulte Mais informação »
Boris Johnson's Conservative Party set to win UK election with a clear majority, exit poll showsThe result of the election will have a decisive effect on the direction that Brexit takes.
Consulte Mais informação »
This is how sterling might trade on the UK's pivotal election nightWith British voters heading to the polls on Thursday for the third time in four years, markets have mostly priced in a majority for Prime Minister Boris Johnson's Conservative Party.
Consulte Mais informação »