London midcaps touch more than two-year highs as Labour Party returns to power
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July 5: Britain's domestic-focused stocks logged their best week in more than five months on Friday after a landslide election win by the Labour Party raised investors' hopes that the outcome will bring a boost for the UK economy. The mid-cap FTSE 250 was up 0.9%, edging towards the key 21,000 mark. It hit more than a two-year high earlier in the session and had its best week since Jan 22. "Labour wanting to boost the economy and helping businesses will more likely impact companies on the FTSE 250 than the FTSE 100 as its more domestically oriented," said Fiona Cincotta, senior markets analyst at City Index. British homebuilding companies were the top gainers on the FTSE 100 as investors welcomed Keir Starmer's plans for building 1.5 million new homes over the next five years. The UK homebuilders index jumped 2.5%, while the construction sector gained 3.1%. Shares in Persimmon, Taylor Wimpey, Vistry and Barratt cli...