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Another surprising political development that was not predicted either by polls or by betting odds.
It confirms one thing, that for now the exit poll is King!
PM Theresa May has been badly damaged by an unnecessary political gamble that leaves egg on her face for the UK and rest of Europe to see. She has paid for a poor campaign that put the focus on her very aloof and remote management style.
What happens next in a volatile hung Parliament, with a tiny working majority much smaller than in 1992 or in 2010 is in “the lap of the Gods”.
However UK equities have not panicked by this development, maybe investors have been numbed by politics.
We have had a look at UK stocks today, in particular three companies that we believe are inexpensive, have significant earnings growth ahead and are bit oversold today.