UK Markets Advance After Labour’s Election Night Sweep

Pound is the best performer in the Group-of-10 this year
‘We remain constructive on sterling crosses:’ Deutsche Bank

WATCH: Labour leader Keir Starmer said “change begins now,” as his party wins the majority in the UK general election. Source: Bloomberg

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By Greg Ritchie and Henry Ren

July 4, 2024 at 9:08 PM UTC

Updated on

July 5, 2024 at 7:24 AM UTC

This article is for subscribers only.

Investors responded to Labour’s historic election victory by buying up UK stocks and pushing the pound to its longest winning streak in four years.

The FTSE 100 Index gained 0.4%, with homebuilders leading the advance. The pound climbed for a seventh straight day, edging up 0.1% to around $1.277. Ten-year UK bond yields dropped two basis points to 4.17%.