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European markets set to open higher with UK election results in focus

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European stocks were expected to open mostly higher on Friday as the U.K.’s general election draws focus in the region.

Early on Friday morning, Labour passed the threshold needed to govern alone as outgoing PM Rishi Sunak conceded defeat.

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

Early on Friday morning, Labour passed the threshold needed to govern alone as outgoing PM Rishi Sunak conceded defeat. Keir Starmer, leader of the center-left Labour,In corporate news, French bank BNP Paribas and Swiss lender UBS are reportedly expressing interest in buying HSBC's German wealth-management unit, Bloomberg News reported Thursday, citing people familiar with the matter.

Stateside, S&P 500 futures were trading relatively flat Friday as investors geared up for the release of a closely watched jobs report.

 

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