(MENAFN- ProactiveInvestors) The Footsie is set to race ahead at the outset as projections indicate the Conservative party will have enough seats to form a government.
The BBC is forecasting 325 seats for the Tories which would give the party a slender majority in the House of Commons even without the aid of its former coalition partner the Liberal Democrat party which is forecast to have just 12 seats.
As anticipated Labour was all but wiped out in Scotland and is tipped to trail the Conservative party by almost 100 seats when the final results are in.
Spread betting quotes suggest the FTSE 100 will open at around 6980 up 93 points from last night's close as the prospect of a hung parliament recedes.
For once the London market will not be taking its lead from the performance of global markets overnight but for the record US markets had a good day ahead of today's jobs data for April as did Asian markets.
The Dow Jones average rose 82 points to 17924; the S&P 500 advanced eight points to 2088; and the NASDAQ Composite jumped 26 to 4946.
In Japan the Nikkei 225 was up 132 at 19424 shortly before the close and in Hong Kong the Hang Seng was sitting on a 119 point gain at 27409.
On the corporate front announcements are expected today from heavy hitters BG () InterContinental Hotels () () and Rolls-Royce ().
Across the pond the April jobless figures are due out with forecasting non-farm payrolls rose 210000.
“According to the Conference Board's consumer confidence survey households are not as confident about the labour market as they were earlier in the year” notes.
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