Economics

Markets have responded positively to news of a Conservative election win, but uncertainty over Britain's membership of the EU and Scotland's future are storm clouds on the horizon, according to economists and fund managers.

Ed Miliband, Nick Clegg, and Nigel Farage have all resigned after suffering election defeat at the hands of the Conservatives.

The pound has leapt almost 2% and the FTSE 100 has added over 100 points as the general election result points to a surprise majority for the Conservatives.

Pensions minister Steve Webb and business secretary Vince Cable have lost their seats after a calamitous evening for the Liberal Democrats saw the party underperform even the most pessimistic forecasts.

The Bank of England has admitted to making errors in its reporting of foreign investors' purchases of UK government bonds in recent weeks.

Equity markets have begun to recover after an early slump driven by a plunge in German sovereign debt prices.

Charles Stanley is in exclusive talks to sell its securities business to stockbroker Panmure Gordon, putting an end to rumours US firm Stifel Financial was the likeliest buyer.

M&G has reported a rise in UK retail outflows for the first quarter, and acknowledged the outlook for future flows remains "uncertain".

The FTSE 100 has risen almost 1% this morning to retake the 7,000 level, as all sectors except materials enjoy gains.

Hargreaves Lansdown entered the top five groups by net retail sales in the first quarter following a spate of multi-manager launches, according to the latest Pridham report.