Election 2019: FTSE 250 Hits Record But Brexit Looms

Sterling, mid-cap and Corbyn-threatened stocks rallied after the best Conservative showing in an election since 1987, but Brexit is already having a sobering effect on some traders

James Gard 13 December, 2019 | 9:53AM

Boris Johnson election

Sterling and UK shares have surged as the scale of the Conservative party’s victory emerged overnight.

Polls before election day had predicted a Boris Johnson majority but City traders reacted strongly to the biggest election win since the 1980s. The domestically focused mid-cap index, the FTSE 250, rallied 4% in early trading to hit a record high, while the pound climbed to an 18-month high against the dollar at $1.34 against the dollar. The FTSE 100, which usually gains with sterling weakness, was more muted at the open, but has since pushed up nearly 2% to 7,404 points.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Centrica PLC40.60 GBX0.25
Persimmon PLC2,259.00 GBX-2.00
SSE PLC1,360.00 GBX-0.84

About Author

James Gard  is content editor for Morningstar.co.uk

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