However the one delivered by the Conservatives drubbing at the polls is likely to play out differently, not least because it has not been perceived to be as much as an outright negative in the first instance as was the case on the morning after last June’s Brexit vote." Odeluga added that none of London’s shares can expect to remain "entirely untouched by the latest sign of a much less certain political and economic landscape" and said he expects investor selectiveness to be clearest among the sterling-sensitive, pointing to property groups and retailers.
The price of sugar closed down 0.42pc on Friday, and is down 7.9pc in the past month, as US Commerce Secretary Wilbur Ross looked likely to impose a new sugar trade deal with Mexico even if final revisions to it fail to win support from the US industry, trade lawyers and experts say.
While the industry could ask the International Trade Commission to overturn the settlement that suspends anti-dumping and anti-subsidy duty orders issued in 2014, chances for success look slim.
Chris Cummings, chief executive of the Investment Association, said: "Cool temperaments must prevail over hot heads in the coming days and weeks as the country charts a way forward in the biggest domestic and foreign policy challenges it has faced since the Second World War, in particular our new relationship with the EU," Businesses responded to the outcome of the election, which resulted in a hung parliament with no overall majority, with an urgent plea for the economy to be at the top of the agenda, The Telegraph's Cara McGoogan reports.
With the election announcement, it rallied from the low 1.20s to the high 1.20s against the dollar.