Sterling surges and FTSE soars as Tories eye shock majority

The pound has leapt almost 2% and the FTSE 100 has added over 100 points as the general election result points to a surprise majority for the Conservatives.

A dismal night for Labour and the Liberal Democrats began at 10pm when a BBC/ITV/Sky exit poll confounded all previous forecasts by suggesting the Conservatives would win more than 300 of the 650 seats in the House of Commons. LIVE BLOG: Latest reaction to shock election result That prompted a 1% rise for the pound against the dollar, and sterling built on those gains this morning as it emerged the poll had perhaps understated the Tories’ performance. By early morning the pound was trading 1.8% higher against the dollar at $1.55, as it became clear that David Cameron (pictured) ...