It's the FTSE 250 (not the FTSE 100) that shows the impact of Brexit on the UK

(2 Posts)
angryeumigrant Mon 27-Jun-16 19:46:28

The leavers have been whittering on about the fall in the FTSE 100 not being that big and that showing that Brexit is no big deal. However, most companies in the FTSE 100 are large international companies that do most of their business outside of the U.K., e.g. global miners that have a cost base and selling in U.S. dollars. In addition, in some cases, e.g. gold miners or companies that buy and sell in dollars, the collapse in sterling relative to the dollar has pushed up the share price.

The FTSE 250 has the 101st to the 350th biggest U.K. listed companies and is much more representative of the U.K. economy. It's down 14% over the past two days - to a level that it last saw in 2012.

Here is an article in the Daily Telegraph (hardly a remainer publication) explaining this:
www.telegraph.co.uk/business/2016/06/27/why-we-should-be-looking-at-the-ftse-250-and-not-the-ftse-100-to/

Here's another article in the Financial Times on the same point:
www.ft.com/cms/s/0/314ed068-3c2d-11e6-8716-a4a71e8140b0.html#axzz4Clr46xCy

I really wish that the UK media would educate people a bit more rather than endlessly focus on celebrity statements. I mean, I read today that Britain's 5th best men's tennis player has said that he voted leave and "it will be okay". WTF does he know and why should anyone care.

AnguaResurgam Mon 27-Jun-16 19:49:34

Thread running here:

www.mumsnet.com/Talk/eu_referendum_2016_/2671989-FTSE-250-rather-than-FTSE-100-give-a-better-picture-of-UKs-situation

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