Britain: Stock markets in London and Europe opened with a rise after Labour’s victory

Shares in London rose today after Labour’s sweeping victory in the general election, creating a sense of stability for investors who expect it to end years of market volatility.

The blue-chips FTSE 100 index rose 0.3 percent after posting its best daily performance in nearly two months yesterday, while the mid-cap FTSE 250 index was up 0.2 percent at 10:05 a.m. GMT.

Kir Starmer is set to become Britain’s next prime minister, ending 14 years of Conservative rule.

The sterling was steady after Labour’s victory and was up 0.1 percent against the U.S. dollar just moments ago.

Stocks also rose in early trading on European stock markets.

European shares rose to their highest level in at least a week after the Labour Party returned to power in the British general election.

The pan-European STOXX 600 index was up 0.4% at 10:21 a.m. GMT, touching its highest level since June 26.

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