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

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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...

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