The general election has resulted in a hung parliament but, whilst it is yet another major surprise result, it is likely to represent little immediate change in either economic or political affairs for the UK.
In practice Mrs May has lost 12 conservative MPs and gained 10 DUP MPs, who have tended to vote with the conservatives on most issues in previous parliaments.
The prime minister has certainly suffered a loss of authority and, as financial markets hate uncertainty, it is no surprise that Sterling has initially fallen in value against both the Dollar and the Euro. This has in turn produced gains for the FTSE 100 index.
When the dust has settled there may be some changes in emphasis on policy, or personnel, but for now it is business as usual. We do not, therefore, see any need to make any change to our investment strategies.
Trevor Simms, Managing Director @ Birchwood Investment Management