Mid-Session 20 May 19: Local shares surge in response to a coalition victory

The ASX 200 rose as much as 1.7% in opening trade as investors responded to a surprise conservative victory at the Federal Election on Saturday. Banks stood out in opening trade with gains of close to 10% before moderation into the lunchtime period. Other sectors that were directly impacted by proposed reforms, have been well supported - particularly healthcare with NIB (NHF) & Medibank Private (MPL) each up by 10 % at lunch.

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