The UK decision to leave the EU was a Black Friday for the financial markets. The sterling plumped to over 30 years low, to 1,32 dollars and the stock exchanges all over Europe were showing declining trend.
Banks and insurance companies were the most losers, because the City, which employs over 700 000 financial specialists, is now uncertain about the future of the London City as a capital of European financial markets. FTSE 100 index was down by 8,7 percent.
Financial topics today on Friday 24th June 2016:
- Yen surgers by 3,2 percent against dollar to 99,02
- FTSE100 -index slides by 8,7 percent
- S&P500 index futures slump with over 5 percent, tiggering a trading curb
- Gold reaches new high levels with over 8 percent rise
- Oil prices were down
- S&P is considering lowering UK rating from tripe A
- Goldman Sachs predicts that the Bank of England will cut rate in August
- London property prises are expected to decrease – REITs and property company shares were down in London Stock Exhange
- The vote may have overall impact of the big tech companies investments in the City
- The Fed is expexted to hold their rate increase decision