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Global markets plummet on Leave vote


Global stock markets have plummeted on the news that the UK has voted to leave the EU.

The final vote on the UK’s membership to the EU stands at 51.9 per cent to the Leave vote.

Markets across the world are facing brutal selloffs, with money moving to relative risk havens, such as gold and the yen.

Sterling has taken a hit, at one point falling to $1.3232, marking its lowest point in 30 years. It has rebounded marginally and stands at $1.3659, an 8.2 per cent decline on the day.

Futures on the FTSE 100, which indicate early signs of trading on the market, indicate a drop of 8.3 per cent.

Meanwhile US equity futures show that the S&P 500 may drop by 5.1 per cent, while the Hong Kong Hang Seng is falling 4.6 per cent and Japan’s Nikkei 225 plunged 7.9 per cent.

Meanwhile, the price of gold has jumped by more than 6 per cent, rising to its most expensive point in two years. The yen has also seen safe haven status, and has risen 4.5 per cent, marking a near three year high.



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David Cameron has stepped down as Prime Minister following the UK’s definitive vote to leave the European Union. In a statement given this morning on the steps of 10 Downing Street, Cameron says: “I have always believed that we have to confront big decisions, not duck them. “It’s why I made the pledge to bring […]


Pound hits lowest level since 1985

The value of the pound has fallen dramatically on the news that the UK has voted to leave the EU. At one stage, sterling fell by more than 10 per cent to $1.3305, the lowest level seen since 1985. The BBC reports the Bank of England is “monitoring developments closely” and that it will take […]

UK housebuilders remain a value trap – despite post-Brexit falls

Despite the sharp drop in housebuilders following the Brexit result, valuations in the highly illiquid market are still at elevated levels. And whilst some investors may take comfort from superficially low price/earnings multiples, are earnings sustainable over the long term, asks Holly Cassell, Assistant Manager of the Neptune UK Mid Cap Fund. Click here to […]

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India: Modi, reform and the oil price fall

Nearly 12 months since sweeping to power, prime minister Narendra Modi has overseen a significant turnaround in India, which is now on track to become one of the most pro-growth, pro-investment economies in Asia. While the market has rallied 48 per cent over the last year in response to Modi’s reform agenda, what is the potential for further progress?


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