UK stocks will secure considerable gains for the rest of 2024 – but it won’t be down to Labour’s landslide victory in the election, predicts chief executive of major financial advisory.
Nigel Green, the CEO of deVere Group, made the prediction after UK equities only rose slightly after Labour’s landslide win in the general election.
Mr Green said: “There are three reasons why UK stocks seem to have shrugged off the Labour win.
“First, expectation had been widely priced-in by the markets, so the reaction was muted. Second, the short-term uncertainty of the election is over; and third, we will likely see a period of stability of government and policy making – which markets like.
“However, we expect that UK stocks are, indeed, likely to secure considerable gains for the rest of 2024 – but it is not Labour’s landslide victory that’s driving this narrative.”
Mr Green argues that it is history and investor behaviour that are…
