Donald Trump's shock win triggers tumultuous day's trading on global markets
Donald Trump's shock US presidential win triggered a tumultuous day's trading on global markets, with London's top flight sinking more than 2% before rebounding into positive territory.
The FTSE 100 Index closed up 1%, or 68.71 points to 6,911.84, after dropping more than 140 points at the start of the session, when investors were forced to issue a sharp correction after pricing in a Hillary Clinton victory.
European markets also finished the session higher, as the billionaire tycoon's acceptance speech helped soothe investor fears over the economic impact of his policies.
Germany's Dax closed up 1.6%, while the Cac 40 in France rose 1.5%.
US markets also proved resilient in the face of the landmark result, defying expectations of a sharp slump.
The Dow Jones Industrial Average and the S&P 500 were 0.8% higher, while the technology-focused Nasdaq Composite index rose 0.4%.
However, Asian markets - which took the biggest hit from the result - were rooted in the red, with Japan's Nikkei 225 index closing more than 5% lower and Hong Kong's Hang Seng Index dropping around 2%.
Mr Trump's trade policies remain a concern in the Far East after he previously voiced opposition to the Trans-Pacific Partnership and threatened to impose punitive tariffs of 45% on Chinese goods entering the US.
On the currency markets, the pound climbed 0.8% against the US dollar at 1.248 and 1.6% against the euro at 1.140.
The greenback endured choppy trading, weakening on fears that Mr Trump's victory could delay the US Federal Reserve from hiking interest rates next month.
Jasper Lawler, market analyst at CMC Markets, said the "much-feared" election of Mr Trump had not triggered the "one-way negative reaction" from the markets.
"Things are never black and white and Donald Trump can be a positive force, or at least a less negative force, than Hillary Clinton, for some sectors of the stock market.
"The shares of US biotechs, including Gilead Sciences, Amgen, Biogen and Celgene took off, matching the relief in British pharmaceutical shares.
"Hillary Clinton had been very vocal in her opposition to drug price gouging. An imminent crackdown on drug pricing is less likely in a pro-business Republican administration."
In oil markets, Brent crude prices see-sawed throughout the session, before dropping 0.6% to 45.76 US dollars a barrel.
Mr Trump's stunning victory spurred investors towards safe-haven assets such as gold, which rose 0.8% to around 1282.27 US dollars an ounce.
The move also boosted mining shares on the London market, with precious metals firm Fresnillo among the biggest risers, jumping more than 10% or 171p to 1,771p.
Gold miner Randgold Resources rose 5% or 340p to 7,115p, while Antofagasta climbed 52.5p to 641.5p.
The biggest losers on the FTSE 100 were driven by earnings results, with Sainsbury's tanking by nearly 7% after posting a 10% fall in half-year profits and warning of an even tougher second half amid surging costs.
Shares in the supermarket giant were off 16.8p to 238.7p.
Burberry also dropped 30p to 1,451p after half-year profits slumped 24%, as the benefits of a post-Brexit collapse in sterling were offset by pain in its wholesale and licensing business.
The biggest risers on the FTSE 100 Index were Ashtead Group up 143p to 1,385p, Fresnillo up 171p to 1,771p, Antofagasta up 52.5p to 641.5p, Shire up 375p to 4,897p.
The biggest fallers on the FTSE 100 Index were Sainsbury's down 16.8p to 238.7p, Experian down 50p to 1,467p, SSE down 50p to 1,527p, DCC down 155p to 6,190p.