LONDON: U.K. stocks are set to kick off Friday trading in negative territory after early results from the country’s general election pointed to a hung parliament. Futures for the FTSE 100 index UKX, -0.38% pointed to a 0.3% loss at the open, putting the London benchmark on path for a fifth straight day of losses.
The fall came as an exit poll and early results in the U.K. election showed the ruling Conservative Party was at risk of losing its majority in parliament. That could lead to a so-called hung parliament that is feared to slow and muddle the Brexit talks with Brussels. The fall in U.K. stock futures was negated by a sharp drop in the pound GBPUSD, -1.7828% which tends to boost the multinational FTSE index. Sterling traded at a seven-week low of $1.2727, down from around $1.2960 before the exit poll.
