UK Labour's landslide could boost Euro
Speculation that Labour’s landslide election victory could see the British Government intensify efforts to join the euro helped bolster London shares today.
With sterling falling to fresh lows against the dollar, those companies with strong revenues in the US were picked up by investors.
And companies who would gain from entry to the euro, like steel giant Corus, also surged.
Overall, however, it was a sluggish end to the week for the FTSE-100 Index as it ended up just 2.3 points at 5950.6.
Losses in early trading in the US, where the Dow Jones Industrial Average and the tech-laden Nasdaq lost ground, held back shares in London.
