FTSE 100 Climbs As Trump Surges To Victory
2024-11-07
1295
(fxcue news) - U.K. stocks rallied on Wednesday as Donald Trump won the United States elections with a clear majority of 270 seats.
Prime Minister Keir Starmer has congratulated Trump on his "historic election victory" and said that "as the closest of allies, we stand shoulder to shoulder in defense of our shared values of freedom, democracy and enterprise."
The benchmark FTSE 100 climbed 116 points, or 1.4 percent, to 8,289 after closing 0.1 percent lower on Tuesday.
Shares of Lancashire Holdings jumped more than 10 percent. The specialty insurance and reinsurance group has reported a 9 percent year-on-year increase in GWP to $1.7bn for the first nine months of 2024.
Lloyd's of London insurer Beazley rallied 3.6 percent after reiterating its full-year undiscounted combined ratio guidance of around 80 percent.
Prudential surged 5 percent after it posted a 11 percent rise in new business profit for the first nine months of fiscal 2024.
Homebuilder Persimmon slumped 5.2 percent as it flagged concerns around signs of build costs emerging in price negotiations for 2025.
Retail giant Marks and Spencer soared 5.2 percent after beating first-half profit expectations.
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