Shares of companies targeted by Jeremy Corbyn, pictured, for nationalisation surged as the Labour leader said he would stand down after a heavy defeat to Boris Johnson's Conservatives in the UK general election.

Sectors including utilities, transport and mail all benefited, with British Gas parent Centrica surging as much as 18%, the most in its 22-year history as a listed company, rail operator Stagecoach Group spiking as much as 14% and postal group Royal Mail rising 11%.

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