Boris Johnson could spook financial markets in 2020 and investors must avoid complacency, warns the CEO of one of the world’s largest independent financial advisory organisations.
The warning from Nigel Green, chief executive and founder of deVere Group, follows the landslide victory for Mr Johnson’s Conservative party in the UK’s general election last week in which he secured an 80-seat majority, and as stocks rose across Europe on Monday.
The Queen will officially open Parliament on Thursday, outlining her new government’s legislative programme.
It is expected that the Withdrawal Agreement Bill on leaving the EU could be put before MPs as early as Friday.
Nigel Green affirms: “The decisive win for the Conservatives triggered one of the pound’s biggest ever rallies, the FTSE 250 index of UK shares climbed by 3.6 per cent and the FTSE 100 rose 1.3 per cent.
“On Monday, European stock markets reached all-time highs.
“This has been driven in part by investors’ relief that a hung parliament had not been delivered, meaning years of uncertainty and indecisions over the UK’s way out of the EU is coming to an end. Also, perhaps, because the Conservatives promised a more pro-business agenda.”