FTSE 100 goes down still impressed by Brexit
On Monday, British shares kept going down, with traders still in chock after the sudden, historic vote the previous week for the United Kingdom to break up with the European bloc.
The FTSE 100 index edged down 0.6%, trading at 6,105.76, thus proceeding with its 3.2% dip from Friday. The previous week’s loss arose after Great Britain made up its mind to cancel its long membership with the European Union. According to the referendum, 48.1% were eager to stay in the EU, while the majority, 51.9% justified the leave.
Early on Monday, George Osborne, Britain’s finance minister made an attempt to calm the financial markets, by simply saying that the Treasury, the Financial Conduct Authority and the Bank of England boast reliable contingency plans if something goes wrong.
The minister added that the UK’s economy is strong enough to withstand the huge challenge faced by the country.
Meanwhile, Chancellor of the Exchequer ruled out an instant emergency budget and warned of ongoing volatility in
The Chancellor of the Exchequer ruled out, however, an immediate emergency budget and warned of continued volatility in the financial markets.