The FTSE100 index has made a strong start to the week ahead of the UK general elections scheduled to hold on Thursday December 12. The FTSE100 has benefited from strong performances of shares of Tesco and Anglo-American. Shares of Tesco are up by more than 4% after it announced that it was selling its Asian businesses said to be valued at more than 7 billion pounds. This move topped that of Anglo-American, which is a distant second in the list of risers on the FTSE100 for the day.
FTSE100 Getting Some Pre-Election Lift from Polls
Today’s performance is a welcome break from the poor performance of last week which had driven the FTSE100 out of the long-term ascending channel, threatening a full-scale price breakdown.
The markets are also getting some lift from the latest polls which have re-emphasized the lead of the Conservative Party over the Labour Party, Liberal Democrats, Brexit Party and others. If the Conservatives win as is widely expected, this should provide them with the majority needed to deliver an orderly Brexit; a market-friendly development.