Camp Freddie
Member
From Suzanne Evans' Facebook page, that someone just shared.
A Prime Minister resigned. The £ plummeted. The FTSE 100 lost significant ground. But then the £ rallied past February levels, and the FTSE closed on a weekly high: 2.4% up on last Friday, its best performance in 4 months. President Obama decided we wouldn't be at the 'back of the queue' after all and that our 'special relationship' was still strong. The French President confirmed the Le Touquet agreement would stay in place. The President of the European Commission stated Brexit negations would be 'orderly' and stressed the UK would continue to be a 'close partner' of the EU. A big bank denied reports it would shift 2,000 staff overseas. The CBI, vehemently anti-Brexit during the referendum campaign, stated British business was resilient and would adapt. Several countries outside the EU stated they wished to begin bi-lateral trade talks with the UK immediately. If this was the predicted apocalypse, well, it was a very British one. It was all over by teatime. Not a bad first day of freedom.
Worth checking what shares rose and fell. The FTSE 100 is mostly large multinationals that have a large amount of non-UK capital.
The banks and insurance companies fell badly, since Brexit fucks up financial services, (incidentally one of our biggest industries).
The worst falls are in construction. I mean, what will we do without Polish workmen to build them. But I'm sure Barratts and Berkley (both down a massive 20-25% in one day!) will soon be announcing wage increases for their good honest British builders that voted for this omnishambles.
And the biggest riser (Rangold, up 14%) is a gold-mining company. Operating mostly in Mali
Bonus points for taking last Friday as a benchmark instead of yesterday, which changes a 2-3% fall into a 2-3% rise.
In all honesty, it's not as bad as I feared. But forgive me for apologising to Leavers just because a punch in the stomach is better than the kick in the balls I was expecting.