'Brexit and Scoxit will now become chief concerns' - Industry reacts to election

Markets have responded positively to news of a Conservative election win, but uncertainty over Britain's membership of the EU and Scotland's future are storm clouds on the horizon, according to economists and fund managers.

As election results continue to come in, the Conservatives are currently on track to achieve a majority government, in a shock result which has confounded commentators.  In contrast, there have been heavy losses for Labour and the Liberal Democrats, with many major political players such as Ed Balls and Vince Cable failing to retain their seats. Here, industry commentators assess the longer-term impact of the result for markets: Bill O'Neill, head of the UK investment office at UBS Wealth Management: "The odds were stacked against such a decisive outcome. This result is far less co...