Investing.com - U.K. stocks were higher Friday as the pound sank after the U.K. elections produced a hung parliament.
The FTSE 100 was up 0.55% at 04:30 ET.
The pound was off 0.98% at $1.2704 after low of $1.2636 as the Tories lost their overall majority in parliament.
The yield on the 10-year gilt rose to 1.06% mark.
PM Theresa May rejected calls by opposition leaders for her to stand down.
The Tories still won the most seats but will have to negotiate to form a coalition government.
Labour, which enjoyed a late surge in the poll, may also seek to form a government.
The result could lead to a delay in the start to Brexit talks. The pound fell 1.79% against the euro to €1.1349.
The new government may also have to soften its stance to the talks. May called for a "hard Brexit."
The SNP lost a lot of seats but still won a majority in Scotland.
That could put a push for a fresh independence vote to the back boiler.
Export-oriented stocks benefited from the fall in sterling. But homebuilders and banks suffered.
U.K. construction and industrial output weaker than expected but trade deficit narrowed.