They weren't the terms that the Remain doom mongerers were basing their predictions on in the run up to the referendum. It was vote to leave and immediate emergency budget etc.
FTSE-100 Index
- Thread starter west didsblue
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They weren't the terms that the Remain doom mongerers were basing their predictions on in the run up to the referendum. It was vote to leave and immediate emergency budget etc.
Len Rum
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To be fair to those "doom mongerers (sic)", they did predict the fall in the value of the £.
Throw enough shit at a wall and something will stick.
We were also told that interest rates would rocket and the housing market would suffer. WW3?
I think both sides talked bollocks but the Remain side had government backing and more friends (experts) in high places. Funnily enough those experts have now backtracked on those predictions - anyone would think they were encouraged to present a particular point of view...
grunge
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and here's Boris Saying it was nonsense :)
https://www.theguardian.com/politic...son-dismisses-bank-of-englands-brexit-warning
kevin horlocks wand
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I think the election of trump, or the global conflicts in the world especially Syria forcing huge migration from poorer areas to richer areas all across the planet and yet again people in the west living on the philosophy of buy today pay later are are going to have a bigger impact on the global economy and the U.K. Economy more than leaving the European Union ever will.
KenTheLandlord
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Interesting when you read beyond the headline
FTSE 250 hits record high; FTSE 100 flirts with all-time highs
Meanwhile, the internationally-focused FTSE 100 charged into bull-market territory, surging more than 20pc from its February nadir to 7,121.93 in intraday trading - a whisker away from its all-time record high of 7,122.74. However, it finished at 7,074.34 - up 90.82 points, or 1.3pc.
Nick Peters, of Fidelity, urged investors to remain cautious as around 75pc of the earnings from London’s blue chip companies come from out the UK, so the pound depreciation effectively makes these earnings worth more.
"In essence, the boost to the FTSE 100 has come about because investors believe the UK economy is in a worse place,” Mr Peters added.
Although the FTSE 100 and 250 have surged since referendum, the FTSE Local UK index, which includes London-listed companies that make at least 70pc of their revenue in the UK, remains 4.7pc off its pre-Brexit levels.
IMF crowns UK world's fastest growing major economy
In an embarrassing u-turn, the International Monetary Fund has said the UK will be the fastest growing major economy this year. It follows earlier predictions that a vote to leave the EU could plunge the country into recession and trigger a stock market crash.
It praised the actions of the Bank of England post-Brexit, for helping to "maintain confidence" in the economy. The IMF now expects the UK economy will grow by 1.8pc this year - that's above its earlier forecast of 1.7pc (which it issued in July) and puts the UK on track to be the fastest growing G7 economy this year.
Meanwhile, it left its forecast for global growth unchanged at 3.1pc - which would represent the slowest rate of growth since the global financial crisis.
http://www.telegraph.co.uk/business...ar-low-and-ftse-100-smashes-7000-as-brexit-w/
So the FTSE is doing ok because investors think the place is a shit tip.
Not the fastest growing at all just the best of 7 and still just over half the average global growth.
FTSE 250 hits record high; FTSE 100 flirts with all-time highs
Meanwhile, the internationally-focused FTSE 100 charged into bull-market territory, surging more than 20pc from its February nadir to 7,121.93 in intraday trading - a whisker away from its all-time record high of 7,122.74. However, it finished at 7,074.34 - up 90.82 points, or 1.3pc.
Nick Peters, of Fidelity, urged investors to remain cautious as around 75pc of the earnings from London’s blue chip companies come from out the UK, so the pound depreciation effectively makes these earnings worth more.
"In essence, the boost to the FTSE 100 has come about because investors believe the UK economy is in a worse place,” Mr Peters added.
Although the FTSE 100 and 250 have surged since referendum, the FTSE Local UK index, which includes London-listed companies that make at least 70pc of their revenue in the UK, remains 4.7pc off its pre-Brexit levels.
IMF crowns UK world's fastest growing major economy
In an embarrassing u-turn, the International Monetary Fund has said the UK will be the fastest growing major economy this year. It follows earlier predictions that a vote to leave the EU could plunge the country into recession and trigger a stock market crash.
It praised the actions of the Bank of England post-Brexit, for helping to "maintain confidence" in the economy. The IMF now expects the UK economy will grow by 1.8pc this year - that's above its earlier forecast of 1.7pc (which it issued in July) and puts the UK on track to be the fastest growing G7 economy this year.
Meanwhile, it left its forecast for global growth unchanged at 3.1pc - which would represent the slowest rate of growth since the global financial crisis.
http://www.telegraph.co.uk/business...ar-low-and-ftse-100-smashes-7000-as-brexit-w/
So the FTSE is doing ok because investors think the place is a shit tip.
Not the fastest growing at all just the best of 7 and still just over half the average global growth.
west didsblue
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Not so sure about that.
Although yields are down, prices for gilts are rising faster than for equities. Some gilts are up 30% and the FTSE corporate bond index is up about 6% since the vote.
bluethrunthru
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Hasn't the BoE claimed their "prompt action" pumping money out and / or rate cut post Brexit is what prevented rising rates and saved the housing market? Then again the pound is even weaker now than when he made that claim
grunge
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Missed this yesterday, the "doom mongers" were basing predictions on article 50 being triggered the day after the referendum. Which was the assumption on both sides. But that action being delayed has stedied the ship a bit.
Fair points. But in that case why didn't Cameron suggest that, in the event of leaving, we should delay triggering article 50 rather than heading straight down that path without first steadying the ship? Or suggest that pumping money out and/or cutting rates in the event of the leave vote would give additional stability to the economy and housing market.
It seems bizarre that all of the experts have missed these relatively simple alternatives to the doom predicted by Remain supporting politicians.
bluethrunthru
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Surely only time will tell if that was the magic bullet that prevented collapse? It could be that Camerod didn't suggest delaying triggering Article 50 because that wasn't his pitch he was on the Remain side so why would he suggest that in his campaign? It would look like he was anticipating failure. Once he did fail he was off and he didn't give a fuck about anybody else nor Article 50
grunge
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To be honest I don't think anyone put any thought into it as no one thought it would happen. And I think it's that lack of thought that directly caused the delay in pressing the button.
MikeF
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Whikst it used to intrigue me, nowadays I take about as much interest as to when it plummets as to when it rises ie zero
west didsblue
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New intra-day all time high. I think it's down to the Trump crash and burn effect.
BrianW
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Our shares are now much cheaper in dollar terms so if you are an American, or have dollar income, this is the time to buy.
It also helps the market that a typical bank account now pays out 0.05% per annum. If you've got a serious wedge, that makes equities tempting.
It also helps the market that a typical bank account now pays out 0.05% per annum. If you've got a serious wedge, that makes equities tempting.
MillionMilesAway
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Or euros...
AlgarveBlu
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Not necessarily, this will only work if you take out a currency hedge against the value of stirling falling further, predictions from HSBC and others has gbp usd at 1.10 in 2017 so that's a near 8% devaluation you have to beat just to break even. There will come a point when this correlation between the pound going down and the ftse going up will be broken and that will be triggered if there is confirmation of major entities in the city phasing operations out of London.
SWP's back
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I don't know any investors that take a 10 month view.