Mr Jeremy Corbyn, a Marxist time traveller from the 1970s trade union movement, has been elected head of the UK Labour Party. The UK, the world's 5th largest economy, now has as the head of its principal opposition party a man who has so far refused to kiss the Queen's hand in the time honoured tradition of members of Her Majesty's Privy Council. He has preferred instead to absent himself to Scotland, no doubt to kiss the less fragrant hands of his Comrades on Clydeside, where, in the 1860s, a third of the world's shipping was bolted together (sadly, no more). Mr Corbyn's influence on voting patterns should ensure that a Conservative led UK will prosper on a diet of European financial services primacy, technology, pharmaceuticals and economic liberalism. This can only be good news for its stock market in the longer term.

David Fuller's view

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