Asian stocks look to erase Brexit losses; UK shares push higher on Carney speech; New Zealand offers UK its top trade negotiators for post-Brexit deals and other postive stories post Brexit here!

(23 Posts)
Auti Fri 01-Jul-16 15:37:45

Asian stocks look to erase Brexit losses
UK shares push higher on Carney speech
New Zealand offers UK its top trade negotiators for post-Brexit deals
FTSE jumps 1%

So the sky hasn't fallen in.
Just one week later there is positive news.
Lets look forward instead of back!

Thefuturecouldbebright Fri 01-Jul-16 15:52:15

Sssssh. Nobody wants positive news here Auti! Have you not noticed that yet? 😉

Any moment now....

Thefuturecouldbebright Fri 01-Jul-16 15:55:24

Oh, and the FTSE is now the highest it has been all year.

Thefuturecouldbebright Fri 01-Jul-16 15:55:45

FTSE 100 that should have said.

VoyageOfDad Fri 01-Jul-16 15:56:59

The only reasons the markets have stabilised is because we didn't leave the EU last week and Carey has promised billions of pounds of QE.

If someone invoked a50 next week they'd all plummet again.

Thefuturecouldbebright Fri 01-Jul-16 15:57:39

FTSE 250 is halfway back to where it was pre brexit. Not there yet, but heading the right way.

Thefuturecouldbebright Fri 01-Jul-16 15:57:59

Pound still flat

Alfieisnoisy Fri 01-Jul-16 16:00:50

Fingers crossed. Personally I think it's been a disaster but I hope to be proved wrong.

SaltyMyDear Fri 01-Jul-16 16:05:12

It's massively in NZs interests to help the UK with their trade negotiations. So that they can negotiate the best deal with the UK.

NZ was really hurt by UK entering the EU.

BurnTheBlackSuit Fri 01-Jul-16 16:05:52

It will all plummet again when article 50 is invoked. However, it will then sort itself out again. These ups and downs are the result of uncertainty not Brexit.

The effect on the economy can only be judged once we have negotiated trade deals and left the EU and some time has past to let everything settled down. So you can't judge the economic impact of Brexit until about 2020 +

BreakingDad77 Fri 01-Jul-16 16:06:17

We haven't exited yet - its the calm before the storm.

VoyageOfDad Fri 01-Jul-16 16:09:29

These ups and downs are the result of uncertainty not Brexit

Brexit is uncertainty personified !

bkgirl Fri 01-Jul-16 16:10:10

Good. Hysteria as Obama indicated.Thinking about NZ - what about if we joined with commonwealth countries - as a sort of trading club?
Maybe Queen Elizabeth is one very canny cookie keeping it going?
Far rather that than a superstate. smile

SaltyMyDear Fri 01-Jul-16 16:12:22

I'm fairly sure the commonwealth do have an economic agreement, and the UK was part of it before they joined the EU, which forced them to leave it.

(But I could be wrong. It's been a long time since I studied this in school.)

SaltyMyDear Fri 01-Jul-16 16:15:04

Looks like I'm wrong: en.wikipedia.org/wiki/Commonwealth_free_trade

There isn't a commonwealth free trade agreement yet, and it seems it's a post brexit UK who wants to push for one. All the other commonwealth countries have sorted themselves out.

Brexit Fri 01-Jul-16 16:15:10

Or some sort of North Atlantic club with Norway, Canada, Swizerland (I know it's landlocked) and any others who fancy joining.

All change.

Calamara Fri 01-Jul-16 16:15:32

The markets have other more imminent uncertainties to deal with:

www.euractiv.com/section/euro-finance/news/imf-deutsche-bank-is-biggest-threat-to-global-financial-system/

The EU is being pulled in two directions, with nation states wanting more devolved power and the EU bodies in Brussels wanting more centralised powers:

www.euractiv.com/section/trade-society/news/eu-leaders-on-collision-course-with-commission-over-ceta/

www.euractiv.com/section/global-europe/news/slovakia-advocates-returning-eu-power-to-capitals/

Far Right Nationalists are on the rise and could be in positions of authority before long, but the EU is failing to make the decisions necessary to make the electorate across Europe feel that they care about the issues that impact ordinary people:

www.euractiv.com/section/euro-finance/news/spain-portugal-sanctions-on-the-table-despite-brexit-eu-warns/

www.euractiv.com/section/uk-europe/news/austrian-far-right-gets-election-defeat-annulled/

Ohchristmastreeohchristmastree Fri 01-Jul-16 16:15:51

I take you didn't listen to Mark Carney yesterday. He said Brexit was the single biggest domestic threat to the economy.
The economy has stabilised because the Bank of England has said it will release £250 BILLION to help with the fallout of Brexit. That is £250 billion from the Bank of England that we didn't need to use to stabilise the economy a week and a half ago.
£250 Billion!!!!

SaltyMyDear Fri 01-Jul-16 16:16:12

www.thelondoneconomic.com/news/can-a-free-trade-commonwealth-replace-the-eu/27/02/

"However, before Britain turns away from the EU to charge back into the days of Empire, there are a few practical implications we should take to appreciate why a trade bloc of Commonwealth nations wouldn’t be as wonderful as the Eurosceptic would like to imagine."

Calamara Fri 01-Jul-16 16:19:55

If my memory serves me correctly, one of the requirements of Marshall Plan aid was that the Commonwealth would not be used as a trading block. We only paid off our Marshall Plan debts 10 years ago.

VoyageOfDad Fri 01-Jul-16 16:20:12

£250 billion !! F*ck me, why not share it out with the population and we can all retire.

Globetrotter100 Fri 01-Jul-16 16:24:56

Or the NHS and then we can delude ourselves Brexit "fixed" that smile

Globetrotter100 Fri 01-Jul-16 16:33:58

The Carney speech suggested reducing interest rates (that will have the side effect of tanking the pound further, making everything in GPB cheaper for all non-GBP earners to buy). Savings accounts earn even less than already. The QE program is currency dilution, with same effects.

Economic stimulus is only really good news in that it can help delay or mitigate full shock of major economic trauma.

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