Pound Rises as Labour Wins UK Election; FTSE 100 Faces Mixed Reactions

Labour's landslide victory brings hopes of stability, but US economic data shifts investor focus.

The pound strengthened against the dollar and euro, reflecting investor confidence in the new Labour government.
FTSE 100 saw early gains, particularly in housebuilding stocks, but closed lower due to US jobs data.
Labour's win was largely anticipated, causing minimal market volatility compared to past political events.
Investors are now looking ahead to the King's Speech and potential interest rate cuts in the coming months.
US jobs data indicated a cooling labor market, affecting global market dynamics and interest rate expectations.