UK mid-cap stocks hit all-time high after election result
LONDON, May 8 (Reuters) - UK equity markets rose sharply in early trade on Friday, with the FTSE 250 mid-cap index hitting a record high, after a surprisingly strong election showing for Prime Minister David Cameron's Conservatives.
Real estate, utilities and banks were among the best-performing UK sectors at 0711 GMT, with utility Centrica up 7.5 percent, housebuilder Persimmon (Other OTC: PSMMY - news) up 7.3 percent and Lloyds Banking Group up 6.5 percent.
"The surprisingly decisive result reduces uncertainty over the next government," Morgan Stanley (Xetra: 885836 - news) analysts wrote in a note. (Reporting by Sudip Kar-Gupta; Editing by Lionel Laurent)