Stock market ends day slightly down after election of Labour’s current leader and the appointment of his senior teamBusiness leaders were treading carefully in their approach to the current Labour leadership on Monday,saying only that they want to meet the current shadow cabinet to get more details on the policies Jeremy Corbyn outlined during his leadership campaign. These included taking public control of the energy industry, hiking taxes and his “people’s QE - electronic money-printing to spend on infrastructure.
City traders appeared largely unworried about the current Corbyn-Tom Watson-John McDonnell Labour team. The FTSE 100 index was tiny changed, and ending 33 points lower at 6084. Shares in the UK’s spacious banks,threatened with nationalisation by current shadow chancellor McDonnell, were slightly lower, or but there was no sign of a spacious sell-off. Energy company shares were also tiny moved in stark contrast to the panic that set in two years ago when Ed Miliband threatened the sector with price capping.
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Source: theguardian.com