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Brexit

Black Monday 3rd Oct 2016

37 replies

RBeer · 02/10/2016 17:17

With the UK now going for a (hard) Brexit and leaving the EU and its common sense, will the market crash tomorrow?

OP posts:
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IamWendy · 02/10/2016 19:09

Almost sounds like you want a crash to rub in the brexiteers faces?

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RBeer · 02/10/2016 19:24

Nope. I deal in stocks so it's all real to me.

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FarAwayHills · 02/10/2016 19:36

Can't see why?

The markets have known about this for months.

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smallfox2002 · 02/10/2016 19:46

The market won't crash, the realignment was immediate after the vote. The pound may fall further though.

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RBeer · 02/10/2016 20:21
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IamWendy · 02/10/2016 20:26

So, a few weeks of 'jitters' that affects almost nobody is reason enough to shackle us to an undemocratic machine intent on taking away all our powers?

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Bearbehind · 02/10/2016 20:28

wendy could you give us a bit more than platitudes about 'machines taking away our powers'?

What do you see as the definition of a successful Brexit?

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IamWendy · 02/10/2016 20:30

Brexit means brexit. Wink

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smallfox2002 · 02/10/2016 20:31

Oh the EU is undemocratic, that old chestnut, you realise you are talking to people who actually know their stuff, not some wolly on the street?

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Bearbehind · 02/10/2016 20:32

wendy that's not even an attempt at humour.

Are you capable of any more that that!

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Mistigri · 02/10/2016 20:33

It's not going to be good for sterling is it? Regretting not having moved my sterling cash savings into euros a few months ago.

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Kaija · 02/10/2016 20:34

Don't know about a crash, but am guessing there'll be a drop tomorrow, and a rise in the price of gold.

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RealityCheque · 02/10/2016 22:25

Would that be a 'wally' that doesn't know their stuff, smallfox?

Grin

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smallfox2002 · 02/10/2016 22:45

Oh wow, picking out literals on an internet forum, gosh you must be super intelligent.

Try challenging the argument ?

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Auti · 03/10/2016 07:54

There has been talk of a correction for months but more in relation to the dangers of Deutsche Bank and Commerzbank. Indeed many of Europe's banks are in trouble.

Deutsche in particular has the potential to trigger a banking crisis that will make Lehmans look like a walk in the park.

These have nothing to do with Brexit.

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Kaija · 03/10/2016 12:04

And there goes the pound again.

Black Monday 3rd Oct 2016
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purits · 03/10/2016 12:10

There goes the pound again? From 1.168 to 1.150? We're doomed, all doomed.Hmm

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IamWendy · 03/10/2016 13:23

And yet, despite this financial apocalypse..... the shops remain open and no run on the banks yet?????? Wonders will never cease.

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Bearbehind · 03/10/2016 13:38

wendy your various posts on these threads display a woeful lack of understanding of the reality of this situation.

Are you really as naive to it all as you make out?

Could you give us some credible support for your rose coloured outlook?

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Kaija · 03/10/2016 13:45

Wendy, investment cycles aren't completed overnight, it takes a while for a drop in currency to feed through into inflation, and most importantly (and so obvious I can't believe we have to keep saying it) WE HAVEN'T LEFT YET. We are still enjoying all the benefits of the single market. How is this so hard to understand?

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Marmitelover55 · 03/10/2016 13:53

Just had a look at FTSE 100 and 250 and both are up by over 1% so looks like hard Brexit is already priced in as smallfox rightly said.

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smallfox2002 · 03/10/2016 16:12

Not brexit.. the shock of article 50 being declared.

As terms become more apparent there may be larger fluctuations. The currency fall and staying low is more indicative of general economic confidence than the ftse.

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PattyPenguin · 03/10/2016 16:34

The FTSE100 companies aren't necessarily UK companies. They're just companies whose shares trade on the London Stock Exchange - their operations are far further flung. To quote the Telegraph "Credit Suisse recently calculated that the constituents of the FTSE 100 collectively make around three-quarters of their money beyond these shores.

Those revenues are earned in foreign currencies, which must be converted back into sterling for reporting purposes; the weaker the pound, the bigger the relative boost those companies get from those foreign earnings."

So no wonder the FTSE100 is up, given sterling's weakness.

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