The election of Barack Obama to US president will create a "feelgood factor" but it is his economic policy which will affect the economic markets, one business expert has claimed.
According to the Centre for Economic and Business Research (CEBR), the election results may have had a positive impact on the stock market as it is a historic moment, but the substantial policy issues are the "real point".
Charles Davis, an economist with the CEBR, said: "It will be interesting to see how Obama is looking to take forward America's role in the international financial institutions."
He added that there is a clear danger of recession in the US and it will be insightful to see what policies will be introduced and which will not in a bid to steady the volatile US economy and spread confidence through the global financial system.
Findings from the City Index reveal that on November 5th, the day following the US election results, the markets opened slightly higher.
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