Election day is a busy time for the Asset Allocator email inbox, as we sift through an avalanche of press release comments on the financial sector’s hopes, fears, wants and needs for Keir Starmer’s new government.
Now the dust has settled somewhat, we sought to figure out what this could mean for the much-maligned UK stock market, which has been more or less battered since the Brexit referendum in 2016.
The new Labour government has been largely welcomed by the Square Mile – in part down to chancellor Rachel Reeves’s campaign to convince executives of the party’s economic competence.
More proof of this emerged on Friday morning as the City of London and Westminster constituency (which includes other wealthy districts like Knightsbridge, Belgravia and Westmister) voted Labour for the first time in its history – though most of the people who work in the City will live and vote somewhere much leafier.
But the overall…
