Mid-cap boost: The sectors soaring on surprise Tory win

Domestically-oriented stocks have helped power significant gains for UK markets this morning, as investors responded positively to news of a Conservative election win.

Energy companies, housebuilders and estate agents, as well as banks and other financials, were buoyed by the latest results, which point to an unexpected Conservative majority. The FTSE 100 index was up 1.6% to 6,996 by mid-morning. Meanwhile, the FTSE 250 had risen 2.9% to 17,945, as more domestically-oriented mid-cap stocks benefitted from a Conservative win. Utility companies are major beneficiaries of the result, with energy firm Centrica rising 7% and SSE up 5%, as the possibility of an energy price cap promised by the Labour party disappears. Meanwhile, banks and other financ...