The pound and British stocks and government bonds rose on Friday after the centre-left Labour Party surged to a comprehensive win in a parliamentary election.
The bluechip FTSE 100 index rose 0.38% at the open, along with midcaps 0.4% higher. The yield on 10-year British government bonds or gilts, dropped 3 basis points to 4.17%, largely in line with other European markets.
Sterling was up nearly 0.1% by 0708 GMT against the dollar at $1.2777 and steady against the euro, which was at around 84.75 pence.
Labour won a massive majority in the 650-seat parliament with Rishi Sunak’s Conservatives suffering the worst performance in the party’s long history as voters punished them for a cost of living crisis, failing public…
