Labour’s thumping majority provided some impetus to stocks on Friday with economists hoping that the landslide result could spark important economic reforms.

The results confirmed that Labour won a massive majority while the Conservatives look set to slump to the worst performance in their history.

Sterling was rose marginally against the dollar to trade around $1.277 while it was little changed against the euro at €1.18.

The FTSE 100 climbed 0.34 per cent to trade at 8,269.01 while the FTSE 250 rose 0.90 per cent. Gains were led by housebuilders on the back of hopes that Labour will be able to break through the planning logjam and ramp up the pace of construction.

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Produced by: Emmanuel Nwosu, Joe Lee, Chris Dorrell

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