Could the post-UK elections market moves resemble 1997 and 2010?

From xm.com

The UK general election will be held this Thursday, July 4, the day that the US will be celebrating its 248th anniversary from the adoption of the Declaration of Independence. The Labour party is expected to comfortably win the elections with the last unanswered question being the size of its parliamentary majority. It could win more than 400 seats in the next parliament, the biggest Labour majority since 2001, giving its leader the ability to govern untroubled over the next 5 years. The market has understandably analysed and dissected the economic plans of the new government, but it appears to be in a waiting mode ... (full story)