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FTSE futures, gilt yields fall as odds improve on Corbyn-led government

Published 09/06/2017, 02:07
Updated 09/06/2017, 02:10
© Reuters. Ballots are tallied at a counting centre for Britain's general election in Hastings

© Reuters. Ballots are tallied at a counting centre for Britain's general election in Hastings

LONDON (Reuters) - London stock exchange futures sank, gilt yields fell and the pound dived below $1.27 for the first time in almost two months on Friday as odds tightened on Labour leader Jeremy Corbyn becoming the next British Prime Minister after UK elections.

With trading volumes extremely thin out of London hours, FTSE futures (FFIc1) were quoted down 0.2 percent as voting results began to come in, backing projections that showed Prime Minister Theresa May losing her overall majority in parliament.

© Reuters. Ballots are tallied at a counting centre for Britain's general election in Hastings

10-year gilt yields also fell around 5 basis points from closing levels in London on Thursday, according to indicative data quoted by Tradeweb on Reuters systems, suggesting shocked investors will seek the security of bonds when markets reopen properly in London on Friday.

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