FTSE Strong as US Election Begins

The FTSE 100 put in a strong showing on Tuesday as Americans flooded polling stations to place their vote in one of the most fiercely fought elections in US history. The election is expected to conclude by 4AM UK time, but there could still be some political horseplay, or a legal challenge against the outcome of the vote.

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shareprices.com - Tuesday, November 08, 2016

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Marks & Spencer Group

If there is a clear winner, then the Asian markets will have the first shot at responding to the income. Analysts expect that a win for Clinton will be seen as a good sign for the markets, while a win for Trump will send the markets downwards.

A win for Clinton will likely see a relief rally, which could see the index test record highs. Meanwhile, a Trump slump could spell bad news for the markets, although given the recent difficulties in the markets, some downside may already have been priced in.

Clinton is ahead in the polls, but that doesn’t mean that a victory is a sure thing. Nigel Greene, the founder of, and CEO at, deVere Group, says the brave would take a major position based on a likely outcome. For this reason, the index traded within a tight range throughout Tuesday’s opening hours, with minor reactions to company-specific fundamentals being the focus of the day, and domestic companies seeing some profit taking. Marks and Spencer in particular struggled on Tuesday, with better than expected results being offset by concerns about poor sales of women’s clothing.

 

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