STEPHEN CRANSTON: Looming UK general election is a done deal, not quite like Brexit
Prime minister’s call for a snap election has boosted the pound and UK government bonds
The calling of the UK general election on June 8 certainly brought back memories. I voted for the one and only time in a UK national poll on June 9, back in 1983. Like then, it looks as though the market is going to like the result — in fact, the polls show that Prime Minister Theresa May will get a parliamentary majority of about 140, in line with what Margaret Thatcher achieved then. It was a good result for the old South African regime in 1983, as Thatcher’s antisanctions stance became more apparent. I can’t imagine May and President Jacob Zuma being ideological soulmates, but at least Brexit could mean that the UK buys more Koo peaches and Douglas Green pinotage as an alternative to European produce. Many of us have quite a chunk of our pension portfolios in the UK, though many of these shares, such as Unilever and BP, probably earn more than 80% of their profit outside its borders. There is plenty of UK exposure on the JSE, especially in the property sector.A clear majority in ...
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