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Exit poll is showing that UK Conservative party, led my Mr. David Cameron is set to form government for another five years. Polls are varying on number of seats, but all predicting Conservative's return to power.
- One exit poll is predicting that conservatives would win 316 seats in 650 members' parliament, while exit poll by BBC predicts an outright majority for the conservative party. Opposition Labour party is set to secure only 239 seats. This would be Labour party's worst result in almost three decades which puts Mr. Milliband's leadership in question.
- If the poll holds true in one hand adapting policy measures would become easy for conservative government with outright majority which would provide boost to FTSE stocks.
- Exit poll shows that Labour party is almost wiped out in its traditional stronghold Scotland, with Scottish National Party (SNP) set to win almost every seat. However if conservative party wins an outright majority, SNP would lose its bargaining power in spite of landslide victory. Nevertheless, they are sure to gain greater policy autonomy in future.
Pound has gained more than 2% trading close to 1.55, which is still providing some resistance as of now. Focus is on NFP report during US hours, nevertheless pound will remain strong even if NFP surprise on the upside.
