23 MAY 1987, Page 33

Election losers

THE form-book suggests that election markets should be treated with care. The City can guess wrong. It misguessed in 1970, and again in the first of the 1974 elections. More striking was its response to Mrs Thatcher's first win. The market peaked on election day, and went straight into a slide which took 20 per cent off the FT Index. City and Suburban's manifesto, this time: Fair shares for taxi-drivers.