Companies with a UK focus listed on the London Stock Exchange today reaped the benefits of Boris Johnson's election victory.

Businesses enjoyed some huge surges, after spending years in turmoil due to the uncertainty of Brexit.

Investors this morning plugged assets into UK companies, with many feeling a new sense of security following the result.

Prime Minister Boris Johnson is greeted by staff as he arrives back at Downing Street after meeting Queen Elizabeth and accepting her invitation to form a new government today

British companies were up by highs of 15 per cent this morning after the FTSE 100 opened.

The listed banks were some of the biggest gainers in early trading, with Virgin Money, Royal Bank of Scotland, Lloyds Banking Group and Barclays all soaring.

Royal Bank of Scotland - which remains majority owned by the taxpayer - was the biggest riser, with shares up 11.3 per cent.

It helped the FTSE 100, made up of several international giants, climb 1.5 per cent. The FTSE 250, which has more UK-focused businesses, jumped 4 per cent.

The pound also enjoyed its best gains in a in a decade as Britain prepares to finally 'get Brexit done'.

Prime Minister Boris Johnson claimed victory in the general election last night and when the exit poll emerged, the pound rose about 2 per cent against the dollar to reach $1.3469 and was up 1.6 percent against the euro at €1.2054.

Meanwhile global share prices have also crept up following the election result.

Sterling was at its highest against the euro since the immediate aftermath of the EU referendum

Sterling was at its highest against the euro since the immediate aftermath of the EU referendum, and its highest in more than a year against the dollar.

At 7am, the pound was up 2.1 per cent against the dollar to 1.345 and up 1.29 per cent against the euro, nudging close to 12-month and 31-month highs respectively, having hit and remained at the highs from within the first hour of the exit poll's release.

The City reacted positively as the Conservatives romped home to the biggest majority since 1987 but warned clarity was now needed on the future relationship between the UK and the EU.

Bosses and trade bodies also called on the Government to end 'arbitrary negotiating deadlines'.

The biggest risers on the FTSE 100 within moments of the stock market opening include Persimmon up 15 per cent, ITV up 12 per cent, Centrica up 12.6 per cent and Legal and General also up 12.6 per cent.

International-focused businesses, including GlaxoSmithKline, Diageo and Astrazeneca, were the biggest fallers due to the soaring value of the pound against the dollar, dropping 4 per cent, 3.5 per cent and 3 per cent respectively.

This is while housebuilders, which have suffered from a major downturn in the construction sector due to the uncertainty, also enjoyed significant gains.

Persimmon led the risers on the FTSE 100, up 12.9 per cent. Rival housebuilders Barratt Homes, Crest Nicholson, Taylor Wimpey, Redrow and Bellway also rose.

There were also strong rises in energy and utility companies, with the fear of nationalisation removed.

Labour leader Jeremy Corbyn leaves his house in North London this morning

SSE jumped 9.4 per cent and British Gas owner Centrica rose 7.3 per cent.

BT, which had been under threat of seeing its Openreach division nationalised, also rose, by 8.7 per cent as did transport companies including Stagecoach, Go-Ahead Group and ticketing firm Trainline.

Sterling's jump reflects how Mr Johnson's majority will end the months of deadlock in the House of Commons and bring an end to the uncertainty over Brexit.

Gains were tempered, however, by the knowledge that even if Mr Johnson takes Britain out of the EU by the 31 January deadline, negotiations will then need to begin on the future trading relationship within a tight period.

The rise in the pound was supported by the shift away from Jeremy Corbyn's plan to radically reshape the economy, imposing higher taxes and nationalising industries.

Surge: The pound shot up against the dollar in the moments after the exit poll predicted that the Conservatives would win a thumping majority in the general election

The pound also surged against the euro (pictured) after the exit poll heralded an end to Brexit uncertainty and defeat for Jeremy Corbyn's socialist vision for Britain

Dean Turner, economist, at UBS Wealth Management, said: 'As we saw throughout the campaign, the pound tended to tick higher against the dollar on signs of a Conservative majority. On the basis of this exit poll, sterling has skyrocketed.

'As we predicted, the pound has now risen to $1.35 against the US dollar, and we've long held a bullish medium- to long-term view on sterling versus the dollar due to attractive valuations and structural factors.

'Gains beyond $1.35 in GBPUSD, though could be more challenging as the next phase of the Brexit negotiations ensues.'

The Conservatives have also sought to emphasise their economic track record since they came to office in 2010.

Sterling had a jittery polling day, with investors fearing a possible hung parliament amid claims that the race was narrowing.

The pound hit a low of €1.1755 and $1.3060 during the day, but it had bounced back by the time of the exit poll.

The Conservatives are on track to rack up 365 seats in the first December election for nearly a century, with Labour collapsing to 203 - down 59 on 2017. The Tories formally crossed the winning line of 325 seats just after 5am

'Election result is ideal' say experts who praise Tory victory for soaring pound Michael Brown, Senior Analyst at Caxton (foreign exchange and international payments firm) said Sterling has rocketed, making the margin of victory much wider than markets had priced in. 'The pound is currently trading near a three-and-a-half year high against the euro and an 18 month high against the dollar. 'The election outcome is the ideal one for sterling for three reasons. Firstly, the Tories have won a clear majority, allowing a smooth and orderly Brexit to take place at the end of January. 'Secondly, with such a vast majority, PM Johnson has a significant degree of flexibility over the Brexit process, perhaps to pursue a ‘softer’ Brexit and closer relationship with the EU or to extend the transition period if he desires to do either.' He added that Labour had a 'disastrous night' and said the market is now pricing out a 'Corbyn risk' with the Labour leader’s tenure clearly over. 'Going forward, sterling should remain relatively well-supported, with focus likely remaining on the Brexit process rather than the economic fundamentals.' Advertisement

Mr Johnson is on course for the biggest Tory majority since Margaret Thatcher's third election victory in 1987.

Mr Corbyn's party is on course for a historic defeat, slumping to around 200 seats and losing dozens of seats to the Conservatives.

The Labour leader has already called time on his tenure at the helm of the party, saying he will not lead Labour into the next general election.

Elected leader in 2015 with little support from his own MPs, Mr Corbyn has faced repeated plots to remove him since then.

He confounded those critics with an unexpectedly strong performance in the 2017 election, gaining seats and denying Theresa May a majority.

He confounded those critics with an unexpectedly strong performance in the 2017 election, gaining seats and denying Theresa May a majority.

But since then his party has been engulfed in an anti-Semitism crisis and Mr Corbyn has been widely criticised for his handling of it.

During the campaign, he failed to apologise to Jewish people in a stormy interview with Andrew Neil.

In addition, Mr Corbyn's equivocal stance on Brexit has infuriated many Remainers who wanted him to support cancelling Brexit.

Under pressure from party activists, Mr Corbyn finally agreed to back a second referendum.

However, he drew fresh criticism for pledging to be 'neutral' during a second referendum campaign.

Opening the door to cancelling Brexit may also have cost Labour votes in some of its heartlands where it hast lost seats in the general election.

Jeremy Corbyn (pictured) is on course for a historic defeat, slumping to 191 seats and losing dozens of seats to the Conservatives