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You can find the current article at its original source at https://www.theguardian.com/business/live/2016/jun/24/global-markets-ftse-pound-uk-leave-eu-brexit-live-updates
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Next version
| Version 3 | Version 4 |
|---|---|
| Global markets plunge after UK votes to leave EU – live updates | Global markets plunge after UK votes to leave EU – live updates |
| (35 minutes later) | |
| 8.12am BST | |
| 08:12 | |
| £120bn wiped off the FTSE 100 | |
| More than £120bn has been wiped off the FTSE 100 at the start of trading. | |
| 8.07am BST | |
| 08:07 | |
| Housebuilders plunge by 40% | |
| It’s an absolute rout! | |
| The FTSE 100 has shed 527 points, or over 8%, in a massive selloff.... | |
| Some shares have lost a third of their value. Housebuilders Taylor Wimpey and Persimmon have plunged by 40% | |
| And some shares have still not opened.... | |
| 8.04am BST | |
| 08:04 | |
| Shares dive in London | |
| There are some big moves already. | |
| Supermarket chain Morrisons is down 9%, Royal Mail (floated a few years ago) are down almost 7%. Mining group BHP Billiton has lost 6%. | |
| But half the FTSE 100 hasn’t actually opened, as market makers struggle to match buy and sell orders. | |
| 8.01am BST | |
| 08:01 | |
| Europe’s stock markets are open, and shares are tumbling. But it’s going to take several minutes before we know the full damage.... | |
| 7.59am BST | |
| 07:59 | |
| Simon Goodley | |
| The general view on the IG trading floor is that the Bank of England’s statement says nothing (The Bank may take that as a compliment). | |
| Traders are looking forward to hearing what other central banks say - plus a view from the boss. As one puts it: “What do [Mario] Draghi and [Angela] Merkel say?” | |
| 7.45am BST | |
| 07:45 | |
| The chief executive of Barclays, Jes Staley, has issued a statement on the referendum result: | |
| This is a significant decision and there will be many questions asked in the coming days and weeks about what happens next. The answers are complex but our position is not: we will not break our stride in delivering the Barclays of the future. | |
| We have stood in service of our customers and clients for over 325 years. We have been here for them through equally profound changes before. And no matter what has been laid before us, we have been here to help them achieve their ambitions. | |
| That does not change today. And through the uncertainty of the months ahead, be in no doubt that we are ready to do whatever it takes to uphold that promise. | |
| The strategy we announced on 1 March, 2016 was not conditional on the UK remaining in the EU. We are a transatlantic consumer, corporate and investment bank, anchored in the UK and the US. That remains the core of our strength and the Barclays of the future. | |
| Updated | |
| at 7.45am BST | |
| 7.37am BST | 7.37am BST |
| 07:37 | 07:37 |
| Jill Treanor | Jill Treanor |
| Back at Cantor Fitzgerald in the City, traders are bracing for the selloff in half an hour: | Back at Cantor Fitzgerald in the City, traders are bracing for the selloff in half an hour: |
| All eyes are on the German Dax, as well as the FTSE 100, with both being called down almost 10%. | All eyes are on the German Dax, as well as the FTSE 100, with both being called down almost 10%. |
| “Sterling is steady at $1.36” says one trader. | “Sterling is steady at $1.36” says one trader. |
| “Who ever thought it would be $1.48 and $1.36 on the same day,” his colleague observes, amid scores of screens showing the state of play in the markets. | “Who ever thought it would be $1.48 and $1.36 on the same day,” his colleague observes, amid scores of screens showing the state of play in the markets. |
| At Cantor Fitzgerald trader indicting where the FTSE is likely to open pic.twitter.com/X146wdfxuL | At Cantor Fitzgerald trader indicting where the FTSE is likely to open pic.twitter.com/X146wdfxuL |
| UK stock market set for a bad start but worse over the Channel: German DAX down around 10% so far. | UK stock market set for a bad start but worse over the Channel: German DAX down around 10% so far. |
| Updated | Updated |
| at 7.39am BST | at 7.39am BST |
| 7.33am BST | 7.33am BST |
| 07:33 | 07:33 |
| John McDonnell: Government must stabilise the economy | John McDonnell: Government must stabilise the economy |
| John McDonnell MP, Labour’s shadow chancellor, has commented on the market mayhem: | John McDonnell MP, Labour’s shadow chancellor, has commented on the market mayhem: |
| People will be waking up this morning to turmoil in the markets and the pound crashing, and fearing the emergency budget the Chancellor threatened to hike their taxes and cut public services. | People will be waking up this morning to turmoil in the markets and the pound crashing, and fearing the emergency budget the Chancellor threatened to hike their taxes and cut public services. |
| The Government must now take steps to stabilise the economy, and to protect jobs, pensions and wages. Labour will not allow any instability to be paid for by the working people of this country? | The Government must now take steps to stabilise the economy, and to protect jobs, pensions and wages. Labour will not allow any instability to be paid for by the working people of this country? |
| Updated | Updated |
| at 7.33am BST | at 7.33am BST |
| 7.23am BST | 7.23am BST |
| 07:23 | 07:23 |
| German stock market to plunge | German stock market to plunge |
| European stock markets could suffer even deeper falls than London, when trading begins in 40 minutes. | European stock markets could suffer even deeper falls than London, when trading begins in 40 minutes. |
| Germany’s DAX is currently expected to plunge by around 1,000 points at the open, a fall of around 10%. Bank shares are likely to suffer dramatic losses. | Germany’s DAX is currently expected to plunge by around 1,000 points at the open, a fall of around 10%. Bank shares are likely to suffer dramatic losses. |
| Latest German pre-market calls:Deutsche Bank -21%Commerzbank -18.9%VW -13%DAX called down 11.21%Lang un Schwarz @CNBCi @CNBC | Latest German pre-market calls:Deutsche Bank -21%Commerzbank -18.9%VW -13%DAX called down 11.21%Lang un Schwarz @CNBCi @CNBC |
| DAX -9%CAC -10.50%EuroStoxx -11%Fasten seat belts | DAX -9%CAC -10.50%EuroStoxx -11%Fasten seat belts |
| 7.20am BST | 7.20am BST |
| 07:20 | 07:20 |
| Simon Goodley | Simon Goodley |
| David Cameron is due to give a statement at 8am, just as the markets open (so that’ll be fun). | David Cameron is due to give a statement at 8am, just as the markets open (so that’ll be fun). |
| Chris Beachamp, chief market analyst at IG, says the PM’s next move is crucial. | Chris Beachamp, chief market analyst at IG, says the PM’s next move is crucial. |
| “Sterling now will depend on the shape of the UK government at about 4pm and if Cameron is still there. If he says he’s going it will be sold off again. The best thing he can do is hold the line here. We also have Spanish elections this weekend. To lose one government would be unfortunate. To lose two would be careless.” | “Sterling now will depend on the shape of the UK government at about 4pm and if Cameron is still there. If he says he’s going it will be sold off again. The best thing he can do is hold the line here. We also have Spanish elections this weekend. To lose one government would be unfortunate. To lose two would be careless.” |
| 7.17am BST | 7.17am BST |
| 07:17 | 07:17 |