London’s stock market and the pound advanced versus the dollar Thursday as Britons voted in a general election expected to be won by the centre-left and main opposition Labour party.
Eurozone stocks also pushed higher amid political manoeuvring to try and block the far-right National Rally (RN) of Marine Le Pen from gaining power in France’s legislative poll on Sunday.
Gains were capped with Wall Street shut for the July 4 Independence Day holiday in the United States.
In Britain, Prime Minister Rishi Sunak’s right-wing Conservatives are forecast to suffer a heavy defeat, which would end 14 years of Tory rule.
“Today’s UK election looks unlikely to cause too many shockwaves given just how resounding the Labour party victory is expected to be, with markets feeling optimistic over the potential change at Downing Street,” said Scope Markets analyst Joshua Mahony.
“Coming off the back of a volatile 14-year stint…
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