The FTSE 100 has gained six points and could be heading for an eighth consecutive day rise. Today FTSE is up 0.13 percent and is valued at 7583.65. The UK blue-chip stock index opened at 7,565.7 and closed at 7,585.7 yesterday.

Michael Hewson, chief market analyst at CMC Markets, said: “Having risen steadily from three-year lows against the euro in August, to post three-year highs last week, traders are now looking further ahead to the next stages in the Brexit process, as well as the prospect of a possible rate cut by the Bank of England next year.”

Shares of exporters have benefited from a lower pound due to no deal Brexit concerns.

A weaker currency is beneficial for some British companies who sell their products or services outside of the UK.

This allows clients to buy more as the pound exchange rate is cheaper.

Mr Johnson is hoping to limit Parliament from being able to vote for an extension to the current deadline set of December 2020 for the UK to leave the EU.

The currency has been impacted due to fears the UK could end up without a deal at the end of exit negotiations, with concerns over how long a new deal may take to agree.

SEE MORE: Pound LIVE: Sterling SOARS as exit poll shows huge Tory majority

The FTSE 100 has inched 0.2 per cent higher giving its best run of consecutive gains since May 2017.

The FTSE 250 was flat at 8:35am as trading began to wind down for Christmas.

Following Boris Johnson’s success in the election last week, the investor focus has now shifted to Brexit.

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The pound has been traded at a two-week low as traders expected the deal to be ratified without much difficulty.

The Office for National Statistics announced today that borrowing in April to November 2019 was £50.9 billion, which was more than £5 billion more than the same period last year.

The Office for Budget Responsibility expects borrowing to increase in the financial year ending March 2020.

The Tories win in the general election sent the FTSE 100 to its best day in a year on Monday as analysts hailed the “Boris Bounce”.

The former Back of England deputy governor Andrew Bailey has been named as the new governor of the British central bank.

Chancellor Sajid Javid said Bailey was the ‘stand-out candidate’ and is a ‘leader of international standing’.

Mr Bailey is currently the chief executive of the Financial Conduct Authority.

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