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Liberum Capital strategist on market’s reaction to Tory victory

Sebastian Jory, strategist at Liberum Capital, discusses the stock market’s reaction to the Conservative triumph at the general election. 

The FTSE 100 leapt as much as 2%, helping it back above 7,000 points after several days of uncertainty. The FTSE 250, seen as a yardstick for UK business, jumped around 3% to 17,933.

Jory talks through some of the sectors to benefit from David Cameron’s victory, including banks, utilities, and housebuilders. He suggests some stocks such as infrastructure group Balfour Beatty (LON:BBY) have benefited from a ‘sentimental reaction’ and could now be overvalued.

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