A hung UK parliament - one of the most unexpected UK election results in living memory - failed to roil financial markets in anything like the fashion experienced in the aftermath of the Brexit result a year ago. There was no global flight-to-quality trading, although, predictably, sterling took the brunt of the price action. Cable fell over three big figures, to a low of 1.264 in the early hours of Friday but quickly bounced to close around 1.273. And as usual, the flagship FTSE 100 index, which largely consists of companies with overseas earnings, rose in response.
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