LONDON, May 8 (Reuters) - Britain’s FTSE 100 index is seen rising at the open on Friday, with futures up 1.6 percent, after an unexpectedly strong election showing by Prime Minister David Cameron’s Conservatives.
The initial results appeared to remove any chance of the hung parliament that had worried financial investors in the run-up to Thursday’s vote.
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* BRITISH ELECTION: Prime Minister David Cameron’s Conservatives are set to govern Britain for another five years after an unexpectedly strong showing, but may have to grapple with renewed calls for Scottish independence after nationalists surged.
* UK BANKS: UK bank shares are seen up to 4 percent higher at the open after a strong election result for the Conservatives, traders said.
* STERLING: Sterling jumped to a one-week high against the U.S. dollar and the euro on Friday after exit polls in a British general election showed the ruling Conservatives on track to securing the most votes in a tightly contested race.
* UTILITY/PROPERTY SHARES: Traders said that British utility and property shares were expected to outperform on Friday on expectations that the Conservatives would hold power, since the opposition Labour Party had been proposing tougher, new regulations on those industries if Labour won the election.
Centrica and SSE are seen up to 5 percent higher at the open, traders said.
* HSBC : HSBC has offered to buy out the minority shareholders of PT Bank Ekonomi Raharja Tbk and delist the Indonesian lender from the Jakarta stock exchange.
* OIL: Oil fell on Friday, erasing gains earlier in the session, as concerns over oversupply outweighed strong Chinese import figures.
* METALS: London copper slipped on Friday.
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> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting by Sudip Kar-Gupta)