Good morning, it’s Paul here with Friday’s placeholder.
General election – Tory landslide
I’m writing this at 00:42, so only a few results have come through so far. However, they’re in line with expectations (!!) set by the exit poll which indicates a Tory landslide.
(Update at 05:14 – it’s just been declared by the BBC that the Conservatives have officially won, with an overall majority.)
I’m extremely relieved, as the potential damage from a Marxist Corbyn Govt, would have clearly been utterly catastrophic for the economy amp; our investments, not to mention the country as a whole.
Sterling has strengthened further overnight – which makes imports cheaper (good for non-food retailers).
Removal of the political uncertainty (Corbyn was a bigger fear than Brexit, in my view), means that we could see some terrific rebounds in small cap shares in the next few days. I think we could see a lot of investors deploying their cash piles to buy small caps from the opening bell today.
I can foresee consumer confidence improving now (also good for retailers, and the housing market), plus backed-up deals amp; capex could now resume. This is the best possible election outcome in my view, and could be really bullish for bombed…
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