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US: Stocks rise, shrugging off surprise British vote

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[EWN YORK] Wall Street stocks rose early Friday, moving back into record territory and shaking off a surprise election result in Britain that threw into question Brexit negotiations.

The pound fell sharply after voters rejected British Prime Minister Theresa May's effort to increase her parliamentary majority and instead handed the Conservatives a stunning defeat at a key time in talks with the European Union.

But investors' response on Wall Street and in other bourses suggested the British vote was viewed as localised and not a huge influencer on global markets.

About 15 minutes into trading, the Dow Jones Industrial Average was at 21,234.64, up 0.3 per cent.

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The broad-based S&P 500 rose 0.2 per cent to 2,438.79, while the tech-rich Nasdaq Composite Index climbed 0.1 per cent to 6,328.09.

Ford was flat following reports it was offering buyouts to salaried workers to reduce the workforce by about 1,400 in North America and Asia as a cost-saving move.

AFP

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