View more on these topics

FTSE flounders as UK wakes to hung parliament uncertainty

The strong chance of a hung parliament and falls in both the US and Asian markets saw a sharp fall in the FTSE 100 this morning.

At 8.54, the blue-chip index stood at 5176.57, a fall of 1.60 per cent, only to rally to 5239.22 at 9.43.

The Dow Jones index fell over 9 per cent at one stage before recouping some of its losses to close 3.2 per cent down, while Asian markets fell sharply over concerns the Greece debt crisis may affect the economic recovery with Japan’s Nikkei falling 3.1 per cent.

The pound has also struggled on the back of the election results, having fallen 2 per cent against the dollar to $1.4639 and 1.6 per cent against the euro to 1.1551 euros to the pound. The fear is that a weak government may not be able to reduce the UK’s high budget deficit fast enough.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm