British bank stocks get severe beating on the London Stock Exchange on Monday, and is strongly represented on the list of companies falling most in value.
Large Banks like Barclays and Royal Bank of Scotland fell respectively 25 percent and 19 percent Monday.
Monday’s fall comes on top of the sharp fall Friday after the surprising outcome of the British referendum were known.
Royal Bank of Scotland has roughly fallen 160 billion market value after the share price as of this writing has fallen an estimated 40 percent in two days.
the rate is the lowest since the financial crisis in 2009, writes the Telegraph.
The British finance minister George Osborne tried Monday so he could calm markets. Bank of England stands ready with 250 billion pounds to set up their own banks if needed, in both pounds and foreign currencies.
Photo: LEON NEAL / AFP
because of the sharp price fall was trading in practice unavailable in trading systems in five minutes before it was resumed, the newspaper the Independent.
British ten-year government interest rates at historically bottom
Meanwhile, falling long bond yields to history’s lowest level, and the pound continues to fall.
the yield on UK ten-year government bonds fell Monday for the first time in history under 1 percent.
the yield on UK government bonds with ten-year maturities fell to 0.965 percent, according to MarketWatch.
– a so long-term rate can be viewed as a measure of the outlook for economic growth. The drop suggests that one looks at the growth prospects for the UK which worsened after the referendum, says Gaute Langeland, chief analyst at Nordea.
The British finance minister George Osborne tried seemingly vain to calm markets Monday morning.
– I focus on the task before us. Britain’s economy is strong, and we can handle anything that might come, said Osborne.
– everything is stable, says Brexit-general Boris Johnson, while the pound plunging to the lowest level in 30 years, the British government rates reach record low levels, and the value of British bank shares evaporate.
Photo: JUSTIN TALLIS / AFP
Yet falling prices further, after falling sharply on Friday.
Brexit-general: – the pensions are safe, everything is stable
in his first interview since Brexit said Boris Johnson Monday there will not be anything of the predictions of doom as a result of Brexit.
– there is no crisis budget, people’s pensions are secure, the pound is stable and the markets are stable, said Johnsen, apparently in an attempt to soothe troubled Brits.
Johnsen made his statement shortly after Finance Minister George Osborne assured that the British economy was strong. He said the authorities if necessary stood ready with the economic tool.
No comments:
Post a Comment