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London stocks surge as Conservatives claim election victory

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London stocks surge as Conservatives claim election victory
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British financial markets reacted with glee as the Conservatives claimed election victory.

Investors breathed a sign of relief as the prospect of a hung parliament faded as the results rolled in.

The outcome put sterling on course for its biggest one-day rise against the euro since 2009.

European markets are also upbeat.

Fidel Helmer is from Hauck & Aufhaeuser Bank:
“I think right now the clear election result is seen in a positive light. A tight result would have raised the question of how Great Britain wants to set up a government and under what conditions. This could have provoked instability.”

The stability may well be short-lived the Conservatives have vowed to hold a referendum on EU membership and after the resounding success of the Scottish National Party north of the border another call for Scottish independence will be reverberating around Westminster.