Key Stocks and ETFs in the United Kingdom to Monitor Following Labour Party Victory - AstraZeneca (NASDAQ:AZN), BP (NYSE:BP)

Money | July 5, 2024, 11:23 p.m.

Keir Starmer, a Labour Party member, is poised to become the new Prime Minister of the United Kingdom after defeating the Conservative Party led by Rishi Sunak. This victory breaks the 14-year reign of the Conservative Party and gives Labour one of the largest majority leads in 25 years. Starmer emphasized putting the country first in his victory speech. UK stocks and ETFs saw minimal gains post-election, reflecting the potential impact of Labour Party leadership on different sectors. The iShares MSCI United Kingdom ETF and the Franklin FTSE United Kingdom ETF offer exposure to the country's top holdings, including companies like AstraZeneca and HSBC. Financial experts predict that a Labour Party government under Starmer may lead to policy changes but minimal long-term impact on markets. Opportunity is seen in sectors like homebuilding and mining with potential relaxation of regulations and interest rate cuts. Citi favors smaller companies over large caps for growth opportunities post-election.