FTSE 100 Surges on Conservatives’ Win in U.K. Election


WWD

LONDON — The FTSE 100 in London bounced 1.8 percent to 7,009.99 in mid-morning trading on Friday, after Britain’s Conservative Party defied pre-election polls to emerge as the winners of the U.K. general election.

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The London market led a Europe-wide upswing, with the FTSE MIB in Milan and the CAC 40 in Paris up 0.7 percent to 23,002.16 and to 5,001.38 respectively while the DAX in Frankfurt rose 0.6 percent to 11,471.83.

Following news that the Tories, led by the current Prime Minister David Cameron, were on track to win a narrow majority of seats in parliament, the pound was up 0.4 percent against the dollar and 0.5 percent against the euro.

The pound traded at $1.52, while the euro traded at $1.13 and the Swiss franc, $1.09 at 12:00 noon CET.

Although the final result won’t be tallied until later this…

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