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Election result a shock but no reason to start selling, says ETX’s Wilson

Neil Wilson at ETX markets said the index is being propped up by dollar earners benefiting from a weaker pound with defensive stocks also doing well.
picture of FTSE 100 sign
No reason to sell

Footsie has held up well to the shock slump in the Tories popularity.

Neil Wilson at ETX markets said the index is being propped up by dollar earners benefiting from a weaker pound with defensive stocks also doing well.

WATCH: Election result a shock but no reason to start selling

Those with heavy exposure to the UK economy, such as Lloyds Banking Group PLC (LON:LLOY)  have been hit harder as has the more UK-focused FTSE 250 index.

While he says investor were expecting Tories to win with a decent majority, there is no major reason to start selling

He says the pound is bearing the brunt of the political uncertainty and will do so until there is clarity over Brexit, who wil be I government and Theresa May’s future.

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