FAST FIVE: Cable Chaos As Traders Brace For First UK Exit Polls
As traders try to make sense of the early exit polls, the FT reminds us that, for markets, the most important area to focus on is Labour's “red wall” in the north and center of England.
But an exit poll will be released as soon as voting ends, giving traders an idea of whether the Tories secured a clear majority, or whether the final total will be close.
A YouGov survey using modelling that was successful in predicting the result of the 2017 election showed on Tuesday that the Tories were on course to win 339 seats, Labour 231, the Liberal Democrats 15 and the Scottish National party 41, during the upcoming election.
During the campaign, the Tories have targeted a type of voter known as the think-tank approved “Workington Man.” Voters who meet this characterization are defined as “typically older, white, non-graduate male” from a northern town.
Traditionally Labour-supporting, Johnson must break through and lead the Tories in these districts to victory if he hopes to secure a wide ruling majority.