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Companies with a UK focus listed on the London Stock Exchange on Friday last week reaped the benefits of Boris Johnson’s election victory.
The pound also surged to its highest level against the euro in a decade as Britain prepares to finally “get Brexit done’”
The pound rose about 2 per cent against the dollar to reach $1.3469 and was up 1,6 percent against the euro at €1.2054.
Businesses enjoyed some huge surges, after spending years in turmoil due to the uncertainty of Brexit.
Investors plugged assets into UK companies, with many feeling a new sense of security following the result.
The listed banks were some of the biggest gainers in early trading, with Virgin Money, Royal Bank of Scotland, Lloyds Banking Group and Barclays all soaring.
It helped the FTSE 100, made up of several international giants, climb 1,5 percent. The FTSE 250, which has more UK-focused businesses, jumped 4 percent. — Reuters.
Online Reporter