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13/12/19
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British midcaps soar after Conservative victory
By Steve Goldstein
Published: Dec. 13, 2019, 4:09 a.m. EDT
Domestic-oriented, U.K. midcaps surged in early action Friday after the Conservatives secured a decisive general election victory, but top British stocks were largely left behind. The midcap FTSE 250 (^FTMC) jumped 4% while the large-cap FTSE 100 (^FTSE) added just 0.5%, as the surge in sterling (GBPUSD=X) weighed on big U.K.-based multinationals who generate the bulk of their revenue outside of the country. Big gainers in the FTSE 250 included Travis Perkins (TPK.L) up 19%, and Virgin Money UK (VMUK.L) up 18%.
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