Sterling and St James's Place surge as Tories eye shock majority

clock

The FTSE led by financials has gained over 100 points and the pound is up 1.3% against the dollar this morning as the general election result points to a surprise majority for the Conservatives.

Sterling lept almost 2% in early trading but has dipped slightly since. The finance, housebuilding and energy sectors are all represented among the biggest gainers on the FTSE 100 at 10.30am. Wealth manager St James's Place is up 5.2%, and banking group Lloyds has risen 5.9%. Energy company Centrica has soared 6.6%. The three sectors were seen as key battlegrounds in the run up to the election, with forecasters predicting they could face stricter rules and more scrutiny under a Labour government. But with most constituencies having reported voting figures, a Conservative gove...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Inflation and financial planning — focusing on the bigger picture

Inflation and financial planning — focusing on the bigger picture

Well-informed advisers can better guide their clients through turbulent times

Adam Leci
clock 07 June 2024 • 5 min read
More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read
Elections and advice: Planning in political and legislative uncertainty

Elections and advice: Planning in political and legislative uncertainty

‘It should not be based on speculation, always plan on current legislation’

Isabel Baxter
clock 08 May 2024 • 3 min read