Good morning from Paul!
Practically nothing on the newswire today. So today's
Labour landslide
Is now fact rather than forecast. This is not the place for discussions on politics itself. So please can we stick to how the election might affect the economy, markets, and companies/sectors.
Futures on IG are currently showing (at 06:23) little to no change (FTSE 100 up 17 points, sterling flat at £1 = $1.276), because markets already price in high likelihood events in advance. It's only big surprises that send markets haywire - who can forget the Brexit vote, when equities and forex markets went absolutely haywire - I can vividly remember that - even some FTSE 100 stocks collapsing, and (briefly) there were no buy orders on the books at all for some mid and large caps (so technically a bid price of zero!) - that's the danger of stop losses when something big and unexpected happens - fortunes were made and lost that day by geared traders.
FWIW I won't be making any adjustments to my portfolio, because I don't see that much is likely to change any time soon. The general drift is likely to be similar to 1997 I reckon - lots of new stealth taxes, but probably no...
