General Election 2017: Prime Minister Theresa May prompts £6bn turnover in FTSE trading

Jasper Jolly
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The London Stock Exchange saw trading volumes rise (Source: Getty)

The stock exchange has witnessed the highest value of shares traded in a single day since the financial crisis, after Prime Minister Theresa May announced a snap general election.

Turnover throughout the UK stood at £6.3bn, according to the London Stock Exchange’s figures.

Read more: Sterling rises to four-month high as Theresa May announces General Election

The majority of companies on the FTSE saw their share prices decline, with 70 per cent of the 1,870 companies traded seeing their value fall.

Read more: Here’s how to register to vote in General Election 2017

The FTSE 100 saw steep declines as the pound soared. It fell by 2.46 per cent at the time of writing, with only 10 of its constituent companies seeing stock rise in value.

The FTSE 100 had already seen declines as falls in iron ore futures pointed to weaker demand for miners. Early falls were then compounded by the Prime Minister’s shock announcement that the UK will go to the polls on 8 June.

The rise in the value of sterling and heightened uncertainty before the vote contributed to much of the sell-off, according to analysts.

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