LONDON: Europe’s stock markets rose in opening deals on Friday as investors digested news that Labour, as expected, clinched a landslide election victory in Britain to end 14 years of Conservative rule.
London’s benchmark FTSE 100 index rose 0.4 percent following news that Keir Starmer will become Britain’s new prime minister as his centre-left opposition Labour party sweeps to power.
Elsewhere, the Paris CAC 40 stocks index added 0.3 percent and Frankfurt’s DAX was up 0.6 percent with eurozone investors on tenterhooks before France’s crucial legislative vote this weekend.
London stocks, pound climb as Britons head to polls
“In the UK, the expected Labour landslide was effectively much ado about nothing in terms of market movement,” noted Richard Hunter, head of markets at trading group Interactive Investor.
In France, tactical voting efforts to block the far-right from taking over the government have partly bolstered European markets.
But analysts remain wary that the second-biggest economy in the European Union could be headed for a period of political deadlock if there is no overall winner on Sunday.
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