Image source, Getty Images

PIMFA, the trade body for the investment and financial advice industry, has put its pitch to the new government asking for policymakers to work together in to "build a culture of saving and investment for the long term".

Liz Field, chief executive, said: "This starts with ensuring that policymakers are able to create an environment where ordinary retail savers can thrive.

"We look forward to working with the new government in moving towards this goal."

Image source, Getty Images

Troubled baby and kidswear retailer Mothercare has agreed a franchise deal with Boots.

The pharmacy chain will flog Mothercare-branded clothing and home and travel products such as pushchairs and car seats at branches and online.

Mothercare is closing down its UK stores but boss Mark Newton-Jones said: "Today’s announcement is fantastic news for the brand and the millions of Mothercare customers across the UK.

"In Boots, another much-loved British heritage brand, we believe that Mothercare has found the right home in the UK."

Image source, Getty Images

The Competition and Markets Authority has announced it is investigating, external the anticipated acquisition by PUG LLC (viagogo) of the StubHub business of eBay Inc.

The merger was announced last month but the watchdog said today it will probe whether the move will "result in a substantial lessening of competition" in the resale ticket market.

“Viagogo has a long history of ripping off its customers and disregarding consumer law so it is vital this deal, which would increase its grip on the secondary ticketing sector, undergoes close scrutiny by the CMA," responded Adam French of Which?“The regulator must closely examine the impact this could have on competition in the sector to ensure consumers do not lose out.”

Sky News

Image source, Getty Images

"Business after business want an end to the uncertainty," Sajid Javid, the chancellor, has told Sky News.

"And already because of the election result, I know today, from this morning, there are investors that have decided to deploy money and invest money in the United Kingdom."

Image source, Reuters

First reactions from world leaders to the election result have stressed the importance of shaping future relations with the UK.

But who talked of a "massive" new trade deal, while others talked of "clarity" and "co-operation"?

See how World leaders have reacted here

BBC Radio 5 Live
Wake Up To Money

Listen to a number of guests including Hannah Essex of the British Chambers of Commerce who tells the special post-election episode of Wake Up To Money: "What we’re looking for is some more detail from this government about the kind of measures they are going to take to get the economy going again and to give business confidence to unleash that investment [that is now expected to talk place] and hear more about the detail about the business rates review. Is it going to be a detailed review, who's going to be involved?".

And she said all business group were concerned "that we might get out of the European Union on 31 January and into a transition period. But what happens 12 months from now? Will we face another cliff-edge and effectively have a no-deal exit just delayed from now. That's the biggest concern".

The pound is still up against the dollar but has retreated from those levels around $1.35.

The FTSE 100 up 131 points - 1.8% - at 7,405.45.

The FTSE 250 is up 868 points at 21,661.77 - that's 4% higher.

More on that Woodford Equity Income news.

Link Asset Services said that BlackRock, the US investment bank appointed to sell off the Fund's assets, has managed to raise £1.65bn from the sale of 56% of the fund since it was given the task last month.

It was also 79% of the value of one of the fund's parts, Portfolio A.

It added: "It is important to note that BlackRock has managed to realise the assets in Portfolio A in a way that safeguards value in those assets rather than through a ‘fire sale’. BlackRock will continue with this approach for the liquidation of the remaining 21% of Portfolio A which are generally less liquid stocks than those assets sold so far."

Image source, Boris Johnson

Boris Johnson has left Buckingham Palace following his audience with the Queen, during which he will have been formally asked to form the next government. The meeting lasted around half an hour, which is longer than expected.

Keep up with political developments here.

Image source, Reuters

The Woodford Equity Income Fund will be wound up next year with investors beginning to get their cash returned from 20 January.

In a letter sent to investors today, Link Asset Services said the fund would change its name immediately to the LF Equity Income Fund.

The winding up of the fund will commence on 18 January.

Image source, Getty Images

Qantas has picked Airbus jets to fly its ultra long haul routes, dealing a blow to rival plane maker Boeing.

The airline selected the A350-1000 for its planned non-stop Sydney to London service, which would be the world's longest commercial flight.

Qantas also delayed a final decision on whether to begin those, and other long haul services, until March 2020.

The win for Airbus comes as Boeing deals with the grounding of its 737 Max fleet after two deadly crashes.

Image source, Reuters

Bank shares are benefiting today with Virgin Money UK leading the way with a rise of 18.5% to 216p.

The business announced a change in its name from CYBG (Clydesdale and Yorkshire Bank) in June this year after buying Virgin Money in June 2018.

But interestingly the share price is roughly back around to the level it was at when CYBG took over Virgin Money.

The shares have climbed from a low during the year of 102.25p to today's level which is more than twice as much.

Other banks benefiting from the election bounce include OneSavings Bank +10.9%, RBS +10.76% and Barclays +7.72%.

Image source, HOLLYWOODBOWL

Hollywood Bowl - which describes itself as the UK's market leading ten-pin bowling operator - has reported a 15% rise in pre-tax profits to £27.6m for the 12 months to 30 September 2019.

The total dividend payment is up 12% at 11.93p per share.

The business floated on the stock market in 2016 and since then it says it has returned £47.7m of cash to shareholders - 19.9% of its stock market valuation at the time of the share listing.

Stephen Burns, chief executive, said: "I am delighted to report another year of strong profitable and cash generative growth, demonstrating the consistent delivery of our proven, customer-led strategy."

Its shares are up 7% at 252p.

Image source, Getty Images

Taylor Wimpey is leading the FTSE risers at the moment.

It's up 14.88% at 200p, close to its highest level since the financial crisis in 2008.

The housebuilder's shares reached a high of 705p in April 2007 but had slumped to 15p by November 2008.

They didn't climb back above 200p until August 2015 and reached 211p, the highest level in the last decade, in January 2018. Could it top that today?

Andrew Walker
World Service economics correspondent

Image source, Getty Images

Why has the pound gone up after the decisive victory for the Conservatives in the general election?

The election result is seen in the financial markets as removing one layer of uncertainty.

It now seems that the UK will leave the European Union at the end of next month and enter into a transition period during which trading relations will remain unchanged.

The result has removed one prospect that many investors were concerned about - a Labour government with plans for a substantial increase in public spending and a programme of nationalising some important businesses.

However there are major uncertainties that remain, notably what the trade relationship with the EU will be like in the long term. That is still to be negotiated.