It has been a long night for us all. I was in a radio station in Guildford at 12.30 this morning chatting through the beginings of a historic night, with the exit polls now apperaing to be reasonably correct, although it was hard to believe at their release at 10.00 pm.
The slide on the American stock markets almost went un-noticed and this seems to have been a part reaction to the euro-zone situation as it deepens (and a possible error on a placed deal of Billions rather than the correct millions!/ OPPS!), with other markets, such as Asia following. Unusually, the UK Bond markets opened at 1.00 am this morning (07/05/2010) and this was designed to cope with this anticipated election situation. However, early readings show that sterling has weakened slightly, with the FTSE 100 slightly down on early trading. The rest of the day will see where this takes us.
Although most of the UK results (over 600 are now in), it appears that a long day and possibly weekend of negotiations will follow to form a coallition government. Watch this space.
Keith Churchouse/ www.churchouse.com
Churchouse Financial Planning Limited is authorised and regulated by the Financial Services Authority.
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