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Wall Street banks name 10 UK stocks to benefit from Labour landslide win

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Citi, RBC, UBS, Jefferies and Investec name housebuilders and FTSE indexes as picks.

The U.K.'s center-left Labour Party has won a substantial parliamentary majority in the country's general election, unseating the incumbent Conservatives after 14 years. Analysts from investment banks have named stocks and indexes that are likely to benefit as the transfer of power happens in the U.K.

versus FTSE 250 Citi's European equity strategist Beata Manthey said a new Labour government's "policies are expected to be relatively business friendly." Manthey and her team picked the FTSE 250 index , which can be traded through exchange-traded funds such as iShares FTSE 250 UCITS ETF or Vanguard FTSE 250 UCITS , over the large-cap index

, as their "preferred post-election trade." The strategists, however, cautioned that historical data pointed toward lackluster returns immediately after the election results. "On a relative basis, the UK market has tended to underperform 1-2 months after Labour wins, while tallying decent relative performance 12m post-election," they said in a note to clients after the results were confirmed. Swiss bank UBS echoed Citi's call on the mid-cap index.

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