General Election reaction: Market 'fanfare' may be short-lived

Brexit key issue on table

After Boris Johnson’s Conservative party won a landslide majority the likes of which has not been since Margaret Thatcher, industry professionals have hailed the news as a tailwind for the UK economy and assets.

The markets reacted positively to the win, with the domestically-facing FTSE 250 rising 4% in morning trading and the FTSE 100 up 1.5% amid relief that a Corbyn-led Government has been avoided. Nigel Green, chief executive and founder of deVere Group, said: "Boris Johnson's election gamble has paid off. Christmas has come early for the pound, the British economy and UK financial assets." The results are particularly good news for areas of the market that would have been re-nationalised under labour, such as transport companies and the Royal Mail. The latter is up by 5% at 244p, while ...