UK Plc shares hail Johnson's storming election victory [Reuters]
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Source: Reuters
UK Plc shares hail Johnson's storming election victory LONDON (Reuters) - UK shares focused on the domestic economy surged on Friday after Prime Minister Boris Johnson’s ruling Conservatives convincingly won a national election, reassuring markets that Britain is likely to be headed for an orderly exit from the European Union. The FTSE 100 .FTSE index rose 1.1% as a rally in utilities, retailers, housebuilders and banking stocks offset the drag from sterling, which surged to a 19-month high against the U.S. dollar. Housebuilders soared, with Taylor Wimpey ( TW.L ), Berkeley ( BKGH.L ) and Persimmon ( PSN.L ) all up about 14%, reaching record highs and topping the blue-chip index. The FTSE 250 index .FTMC , home to many companies with high UK exposures, surged as much as 5.2% to record highs, before easing slightly to end up 3.4%. Trading volumes on the FTSE 100 .FTSE index surged to nearly three times their daily average. Stocks were benefiting from the Conservative victory and
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