Monday, April 19, 2010

Hung parliament: Markets don't care after all

I almost feel sorry for the forces of Labservatism. The more they U-turn from #iagreewithnick, into attacking with all guns blazing, the more they reveal themselves to be utterly shallow and opportunistic. The best they could probably do is take the Lib Dem phenomenon on the chin and carry on as normal. But psychology demands otherwise.

Anyway I took a look at the FTSE 100 this morning to see what effect the increased odds of a hung parliament might have on share prices when markets open, after all the excellent polls of the weekend. This is what I saw.

OMG shares have fallen back to last Monday's prices. If this is "markets fear a hung parliament" it is a magnitude of fear that is indistinguishable from background noise. The Tories and their pet press are just scaremongering of course.

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