Pound and shares surge after election results

Pound and shares surge after election results
Covid-19
13.12.2019
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The pound and shares have surged after the Conservatives won a clear majority in the UK general election.

Sterling gained 1.9% to $1.34 – its highest level since May last year – on hopes that the big majority would remove uncertainty over Brexit.

The pound also jumped to a three-and-a-half-year high against the euro.

On the stock market, the FTSE 100 share index rose 1.5%, while the FTSE 250 – which includes more UK-focused shares – leapt 4%, hitting record highs.

Prime Minister Boris Johnson said the election result meant that the Conservative government “has been given a powerful new mandate, to get Brexit done”.

Mr Johnson has pledged to take the UK out of the European Union by 31 January.

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