Market Overview

European Markets Surge As Boris Johnson-led Conservatives Win UK Election

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European Markets Surge As Boris Johnson-led Conservatives Win UK Election

Markets across Europe surged in early trade on Friday, hours after the Boris Johnson-led Conservative and Unionist Party won the U.K. general election.

The uncertainty over the U.K.'s exit from the E.U. has caused high volatility in the stock market in recent months. With Johnson coming back as the U.K.'s prime minister, the Brexit negotiations with the E.U. are expected to be fast-tracked.

Brexit related uncertainties will resolve in the coming months " given the relatively short transition period to which the Prime Minister is currently committed," lead UK sovereign analyst at Moody's Corporation (NYSE: MCO) told Reuters.
Here's how the stock markets performed at press time

The U.K.'s FTSE 100 was up 1.85% at 7,408.34.

France's CAC 40 traded 1.18% higher at 5,953.81.

Germany's DAX was up 1.22% at 13,382.86.

Switzerland's Swiss Market Index was up 0.40% at 10,493.51.

Netherland's AEX index traded 1.17% up at 606.70.

Greece's ASE Composite was up 1.12% at 895.13.

Spain's IBX 35 was up 1.55% at 9,615.40.

Europe's Euro Stoxx 50 traded 1.38% up at 3,757.51.

Markets in Asia similarly surged in Friday's trade, as the U.S. and China reportedly agreed on phase one of their trade deal.

The pound sterling traded hit a record level against the U.S. dollar, after the election results, trading at 1.3397.

Posted-In: United KingdomNews Eurozone Politics Global Markets General Best of Benzinga

 

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