UK retail stocks boosted by election result

Britain's retail sector stocks were boosted by Boris Johnson's election win on Friday (December 13), as investors now expect better consumer sentiment and spending in the holiday season.

Shares in the UK's four biggest supermarket groups were up.

Tesco jumped over 4% early morning, while Marks & Spencer was up more than 9%.

That helped the domestic-focused FTSE 250 index outperform the blue-chip FTSE 100, which is more reliant on big exporters.

Analysts say consumer spending could go up as people head for grocery shops in the lead up to Christmas Day.

Retailers will be helped too by the pound rallying to an 18-month high against the U.S. dollar, as the cost of importing goods and raw materials goes down.

Fashion brands also had a boost.

Shares in Associated British foods - owner of fashion retailer Primark - were up almost 6%.

Shares in Next were up 4.2%.

Brexit has weighed on Britain's property market this year.

But with a clear path in the short term, shares in Kingfisher - owner of home improvement chain B&Q - were up over 5%.