Source - SMW
The FTSE and UK will begin Friday with a hung parliament, casting a pall of uncertainty over Brexit negotiations and how they may take place.

PM Theresa May's hopes for a landslide victory by her Conservatives party fell well short, with reports about 6am stating it had obtained 316 seats.

Labour snapped up 265 seats, with the Scottish National Party grabbing 34 and the Lib Dems getting 13. 

Plaid, Green and other parties nabbed 3, 1 and 18 seats respectively.

The markets had feared a hung parliament outcome. At about 6.02am, sterling was down 1.5% to $1.2762. It also fell 1.43% to €1.1386. 

Sterling's Friday flop comes after its Brexit embarrassment in June last year, the ballot then having firmly divided the country along leave and remain battle lines.

US & ASIA

On Wall St overnight, the Dow Jones Industrial Average rose 0.04% to 21,182.53, the S&P 500 firmed 0.03% to 2433.79 and the Nasdaq Composite gained 0.39% to 6321.77.

In Asia this morning, the Nikkei 225 had gained 0.5% to 20,008.62, while the Hang Seng lost 0.25% to25,999.2.

At 6.02am, WTI crude was down 0.11% to $45.59/bbl and Brent was down 0.08% to $47.82/bbl. Gold was down 0.13% to $1277.8/oz, with silver and copper also down by minor percentages.

LONDON MARKETS

Shareholder meetings are expected for Baker Steel Resources, Deltex Medical, GAZPROM NEFT, Telefonica, TomCo Energy and Vertu Capital.