U.K. Election Prospect Has Market Players Scratching Their Heads
- JPM AM, Natixis say uncertainty has increased with the vote
- Labour leadership campaign could weigh on U.K. utility stocks
Photographer: Luke MacGregor/Bloomberg
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Prime Minister Boris Johnson may be trying to break the logjam over the departure from the European Union with a general election, but for the market players the vote is another cause of uncertainty.
On Tuesday after the market closed, Johnson won crucial votes in the House of Commons for the general election on Dec. 12, which now needs to be approved by the House of Lords. The benchmark FTSE 100 Index and the mid-cap FTSE 250 Index were little changed in early London trading. They fell yesterday after it became clear the opposition Labour Party backed an election.