Traders See Consumer Optimism Surviving Vote
- Improving consumer mood points to further gains for retailers
- Domestic stocks have plenty of catch-up potential versus peers
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The prospect of quieter politics and a continued economic recovery after the UK’s election on July 4 should keep consumer confidence and the retail sector on track, strategists say.
For now, equity and currency traders are on the sidelines and counting down the days. Labour’s election manifesto due next week isn’t seen changing their calculus, with both parties limited in terms of big spending commitments. Positive trends already in place will become the focus once the vote is out of the way.