Shares and pound surge as Conservatives head for victory

Search company or market
Search company or market:
Refresh this page Launch Marketwatch ticker
London | Wall Street | Asia

FTSE 100 Index

Last Updated at 20 Feb 2018, 16:36 GMT *Chart shows local time FTSE 100 intraday chart
value change %
7246.77 -

Top winner and loser


432.70 p +

BHP Billiton

1490.40 p -
value change %

FTSE 250 Index

19802.91 +

FTSE 350 Index

4041.03 +

FTSE All Share Index

3991.90 +

FTSE Techmark Index

4456.05 +
Trader in London Image copyright Getty Images

(Close): UK shares and the pound have surged as it became clear that the Conservatives had won an outright majority in the UK election.

The FTSE 100 index closed up 2.32%, rising 159.87 points to 7,046.82.

Bank shares saw some of the biggest gains, on hopes that the sector will not see any further rises in levies.

On the currency markets, the pound was up by more than two cents against the dollar at $1.5460, and was up 1.5% against the euro at €1.3747.

Among the main banks, shares in Lloyds Banking Group rose 5.75% while Barclays was 3.7% higher.

Energy firms also rose, as Labour had wanted to grant the energy regulator powers to cut prices.

British Gas owner Centrica rose 8.1% and SSE shares were up 5.3%.

"The stock market has reacted positively to a more decisive election result than was expected," said Laith Khalaf, senior analyst at Hargreaves Lansdown.

"Meanwhile, the pound has soared as the currency market welcomed the certainty of the result, and the economic continuity provided by a likely Conservative administration."