FTSE futures, gilt yields fall as odds improve on Corbyn-led government

By Kitco News / June 08, 2017 / www.kitco.com / Article Link

LONDON, June 9 (Reuters) - London stock exchange futures sank, gilt yields fell and the pound dived below $1.27 for the first time in almost two months on Friday as odds tightened on Labour leader Jeremy Corbyn becoming the next British Prime Minister after UK elections.

With trading volumes extremely thin out of London hours, FTSE futures were quoted down 0.2 percent as voting results began to come in, backing projections that showed Prime Minister Theresa May losing her overall majority in parliament.

10-year gilt yields also fell around 5 basis points from closing levels in London on Thursday, according to indicative data quoted by Tradeweb on Reuters systems, suggesting shocked investors will seek the security of bonds when markets reopen properly in London on Friday.


(Writing by Patrick Graham)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities,securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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