- Analytics
- News and Tools
- Market News
- Labour party wins UK election, with a sweeping majority
Labour party wins UK election, with a sweeping majority
The UK’s opposition Labour Party has won 337 seats in the parliamentary election so far, implying it now holds a majority in the 650-seat strong House of Commons, Reuters reported on Friday, citing broadcaster ITV.
326 seats are needed for a working majority in the House of Commons.
British Prime Minister Rishi Sunak conceded defeat in the national election, saying that “the Labour Party has won this general election and I have called Sir Keir Starmer to congratulate him on his victory.”
In his victory speech, Labour Party leader and the Prime Minister-elect Keir Starmer said, “today we start the next chapter -- begin the work of change, the mission of national renewal and start to rebuild our country.”
Starmer will replace Sunak as Prime Minister, ending 14 years of Conservative rule.
Market reaction
The UK election results fail to move the needle around the Pound Sterling, as GBP/USD keeps its range above 1.2750, as of writing.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
