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London stock market wipes out premier earns, pound dips

collected by :Dicson Walt

The London stock market and pound slid on Thursday, with investors nervous as Britons vote in a snap general election.

“The UK stock market would prefer a Tory victory as the party is more in favor of free market economics than Labour,” said market analyst David Madden at CMC Markets.
While the pound dipped on Thursday, it was still holding onto gains made after Premier Theresa May called the early election.
“The pound is likely to stage a modest relief rally if the Conservatives secure a larger majority,” said Lee Hardman, a currency analyst with MUFG in London.
The pound gained as much as 4 percent after May called a snap election seven weeks ago.

As it stated in

The Russell 2000 index of small-company stocks picked up 18.94 points, or 1.4 percent, to 1,415.61.
On Thursday:The Standard & Poor’s 500 index rose 0.65 points, or 0.03 percent, to 2,433.79.
The Russell 2000 is up 58.48 points, or 4.3 percent.
For the year:The S&P 500 is up 194.96 points, or 8.7 percent.
For the week:The S&P 500 is down 5.28 points, or 0.2 percent.

 

As it stated in

Bad news about the decline in the stock market for this type of investors

In effect, these 3,499 “losers” are left fighting over the crumbs that fall off the dining table of the 100 most profitable.
CHAPEL HILL, N.C. — The stock pickers among you have fewer than half as many stocks to choose from as you did 20 years ago.
Perhaps the most revealing statistic in this regard is the percentage of corporate profits that come from the 100 most profitable listed firms.
This dramatic reduction undoubtedly has been caused by a combination of factors, and many of them have been widely discussed.
The investment implication is that if a company isn’t one of the few winners, it may very well not survive.
This incredible shrinking stock market is bad news for this type of investor

 

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