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.