FTSE 100 movers: energy, property and banks towering after Tory triumph

8th May 2015 13:26

British Gas owner Centrica topped the risers after Labour's defeat eliminated the possibility of an energy price freeze and tighter regulation, with SSE also making making substantial gains. Broker SocGen highlighted the opportinuty, noting utilities have underperformed the UK market by 9% and the European sector by 7% year to date.Property stocks dominated the risers as high end buyers who were previously wary of Labour's mansion tax returned to the market. A report from Halifax showing that house prices surged by 1.6% also fanned the flames. Persimmon, Taylor Wimpey and Barratt Developments were all trading higher as a result.State-backed banks Lloyds Banking Group and Royal Bank of Scotland surged on hopes that the long-term sell-off of the taxpayer stake remains on track. The sector was also bolstered by the removal of Labour's threat of an increase in the banking levy and a bonus tax. Broker Nomura upgraded the banking sector after the banking-friendly election result. Retailer Sports Direct was in positive territory, as a Conservative win removed the threat of a ban on zero-hours contracts and a push for a 'living wage'.The Conservative win also spelled the elimination of Labour's planned levy on Tobacco profits, lifting Imperial Tobacco's stock.Only a handful of stocks were trading lower, including Pearson and Glencore.RisersCentrica (CNA) 277.50p +7.81%Babcock International Group (BAB) 1,063.00p +7.37%Lloyds Banking Group (LLOY) 87.44p +6.47%Barratt Developments (BDEV) 544.00p +6.04%Capita (CPI) 1,229.00p +5.95%Royal Bank of Scotland Group (RBS) 350.70p +5.60%Persimmon (PSN) 1,741.00p +5.32%SSE (SSE) 1,643.00p +5.05%Taylor Wimpey (TW.) 174.20p +4.94%St James's Place (STJ) 937.00p +4.40%FallersPearson (PSON) 1,299.00p -0.76%Glencore (GLEN) 303.10p -0.08%