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European markets higher as Labour wins UK election; Persimmon rises 2.9% as homebuilders gain

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European stocks opened higher on Friday as the U.K.’s general election draws focus in the region.

LONDON — European stocks opened mostly higher on Friday as the U.K.'s general election draws focus in the region.

Travel and leisure stocks were the standout gainers Friday, climbing 0.6%, as most sectors traded in positive territory. Chemicals stocks were among the few losers among sectors, down 0.2%The primary news story on investors' minds Friday was the results of the U.K.'s general election, with the opposition Labour Party on course to win a huge parliamentary majority in the country's general election, unseating the incumbent Conservatives after 14 years.

"Over the last few years housebuilders' potential has been hamstrung, but over the next few this potential is likely to be unleashed," they wrote. The FTSE 350 household goods and home construction index was up about 1% Friday, as traders reacted to news of the Labour Party's win.

 

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