![Why markets welcomed the scale of the Starmer victory](https://cdn.magzter.com/1591272633/1720238366/articles/fbatcXonc1720253330823/WHY-MARKETS-WELCOMED-THE-SCALE-OF-THE-STARMER-VICTORY.jpg)
Make no mistake, the markets liked the UK election result. That might seem perverse: after all, there will be a Labour government, traditionally no friend of big business and profit-seeking capitalists, with a thumping majority. If there was a case for a crashing pound, it was surely this.
Not a bit of it. On the release of the exit poll correctly predicting the result, sterling held firm. It was broadly unchanged against the dollar and the euro. Nor is anyone predicting a collapsing stock market. Bonds, too, are steady. In a word, investors are relieved. Even the size of the Labour victory has helped in that regard. A much closer outcome, that may only have led to a further ballot and political turmoil, would have created market volatility.
As it is, the scale of Sir Keir Starmer's triumph has provided certainty. In a world of upheaval, of wars, natural disasters brought on by climate change, the resurgence of the far right in France and Europe, a US election that is too close to call, that may yet see a change in candidate and could provoke civil discord, the UK has emerged as a beacon of calm.
It's not a source of worry any more. Rather, Britain has become a magnet for those looking for a safe haven for their money. The pound is back to where it was in 2016, when Britain voted to leave the EU. That's a reflection of traders and investors believing the rollercoaster since, as prime ministers have been and gone, is over.
Denne historien er fra July 06, 2024-utgaven av The Independent.
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Denne historien er fra July 06, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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![Brown shrugs off dislocated shoulder to skate to bronze](https://reseuro.magzter.com/100x125/articles/22095/1791488/K7l0TymNv1723011861082/BROWN-SHRUGS-OFF-DISLOCATED-SHOULDER-TO-SKATE-TO-BRONZE.jpg)
Brown shrugs off dislocated shoulder to skate to bronze
Sky Brown is an Olympic medallist again, and this time she did it the hard way.
![Team GB sprinters bow to all-conquering Dutch trio](https://reseuro.magzter.com/100x125/articles/22095/1791488/jhYZhg5bo1723011675268/TEAM-GB-SPRINTERS-BOW-TO-ALLCONQUERING-DUTCH-TRIO.jpg)
Team GB sprinters bow to all-conquering Dutch trio
Jack Carlin, Ed Lowe, and Hamish Turnbull won Olympic men's team sprint silver for Great Britain as pre-race favourites the Netherlands broke the world record twice on their way to gold last night.
![Kerr wins battle but loses war as Hocker rips up script](https://reseuro.magzter.com/100x125/articles/22095/1791488/HiLlU-9SM1723011406816/KERR-WINS-BATTLE-BUT-LOSES-WAR-AS-HOCKER-RIPS-UP-SCRIPT.jpg)
Kerr wins battle but loses war as Hocker rips up script
It was an astonishing end to perhaps the most enthralling 1500m final in Olympic history.
![Three water companies face £168m in fines over sewage](https://reseuro.magzter.com/100x125/articles/22095/1791488/LLtBFys211723011252106/THREE-WATER-COMPANIES-FACE-168M-IN-FINES-OVER-SEWAGE.jpg)
Three water companies face £168m in fines over sewage
Industry regulator Ofwat has proposed £168m of fines for three of England's biggest water companies for failing to manage their wastewater treatment works, including a £104m fine for Thames Water.
![Hezbollah vow Israel strike over death of military chief](https://reseuro.magzter.com/100x125/articles/22095/1791488/qe2WIfT5a1723011096084/HEZBOLLAH-VOW-ISRAEL-STRIKE-OVER-DEATH-OF-MILITARY-CHIEF.jpg)
Hezbollah vow Israel strike over death of military chief
The leader of Hezbollah yesterday pledged a \"strong and effective\" response to the killing of its military commander by Israel last week and said it would act either alone or with its regional allies.
![Demand for Nobel winner to lead Bangladesh rebuild](https://reseuro.magzter.com/100x125/articles/22095/1791488/0jDVbz6tx1723010881607/DEMAND-FOR-NOBEL-WINNER-TO-LEAD-BANGLADESH-REBUILD.jpg)
Demand for Nobel winner to lead Bangladesh rebuild
Jubilation turned to anxiety in Bangladesh yesterday as the focus of student protesters turned to who should lead the country, now that authoritarian prime minister Sheikh Hasina has resigned and fled to neighbouring India.
![The man who was the first to call Republicans 'weird'](https://reseuro.magzter.com/100x125/articles/22095/1791488/JJr0zUuo41723010629660/THE-MAN-WHO-WAS-THE-FIRST-TO-CALL-REPUBLICANS-WEIRD.jpg)
The man who was the first to call Republicans 'weird'
Former football coach Tim Walz gave away all the money he received from the NRA and is a favourite of the online left
![Minnesota governor Walz to be Harris's running mate](https://reseuro.magzter.com/100x125/articles/22095/1791488/mWsd1MYzh1723009486893/MINNESOTA-GOVERNOR-WALZ-TO-BE-HARRISS-RUNNING-MATE.jpg)
Minnesota governor Walz to be Harris's running mate
The vice-president touted Tim Walz's work for 'middle-class families' in social media post as she announced her selection
![Police offer £3,000 reward in their hunt for horse killer](https://reseuro.magzter.com/100x125/articles/22095/1791488/T_sSHBmTd1723009390417/POLICE-OFFER-3000-REWARD-IN-THEIR-HUNT-FOR-HORSE-KILLER.jpg)
Police offer £3,000 reward in their hunt for horse killer
A £3,000 reward has been offered in the hunt for the killer of a horse found mutilated in a field in Nottinghamshire.
![Charles overruled Camilla to go public on ill health.](https://reseuro.magzter.com/100x125/articles/22095/1791488/GD8ejXOi01723009290707/CHARLES-OVERRULED-CAMILLA-TO-GO-PUBLIC-ON-ILL-HEALTH.jpg)
Charles overruled Camilla to go public on ill health.
Queen Camilla was against King Charles's decision to publicly disclose his ongoing health concerns earlier this year, according to biographer Rob Jobson, who has written a number of books about Charles and other members of the royal family.