ELECTION MARKETS LIVE: Pound leaps with shares tipped to rise

ELECTION MARKETS CLOSE: Pound at $1.33 and shares leap as Tories win big majority and investors chase the Boris bounce

The FTSE 100 closed up 79.97 points at 7353.44 and the pound was at $1.33 against the dollar, as traders absorbed news of the decisive Tory election win. 

Sterling held big gains against the US dollar and the euro overnight, but receded a little during today’s session, having been above $1.35 and €1.20 at one point. 

Builders, utilities, banks and consumer facing firms have seen the biggest rises. 

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