The market is up compared to the beginning of the week. The pound sterling losses against the US dollar have been pared back, and against other currencies like the AUD there hasn't been that much of a change.FTSE 100 finishes the week up more than 2pc after rallying this afternoon
The London market has just closed and despite today's market turmoil, the FTSE 100 has finished the week up more than 2pc.
The two most internationally-oriented banks, HSBC and Standard Chartered, are 0.6% up today. And as soon as the markets dived, other investors piled in to buy up stocks perceiving them to be good value. That tells us the market believes the fundamentals are sound.
Despite how badly many Remainers want market chaos and for people to be hurt economically, it looks like calm and good sense has prevailed.
British stock market rallies HIGHER after Brexit vote Watch
- Thread Starter
- 24-06-2016 18:39
- 24-06-2016 18:47
The FTSE 250 didn't recover quite as well as the FTSE 100 though. As the article states:
the FTSE 250, which is considered a closer barometer of the UK economy, fell by as much as 12.3pc before paring losses back to 7.3pc.
- 24-06-2016 21:28
From what little I understand, investors move away from risky businesses (those with lots of business in the UK), and towards less risky ones (internationals, which tend to be larger, and therefore more likely to be on the FTSE 100) - thus I'd expect that the FTSE 100 is doing well off of the other barometers, like the FTSE 250
- 24-06-2016 21:50
Europes stocks just got wiped out though lol