UK Shares and GBP Rise After Election

May 8, 2015 Share Print 0

UK shares and the pound have jumped after the Conservatives won a parliamentary majority in the election.

The FTSE 100 rose 116.69 points, or 1.7%, to 7,003.64, with shares in banks and energy companies seeing big gains.

On the currency markets, the pound was up nearly two cents against the US dollar at $1.5438.
The Conservatives have unexpectedly managed to secure a slender majority, to the relief of investors who had expected a long period of uncertainty.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.