european stocks slip despite osborne comments
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

European stocks slip despite Osborne comments

Egypt Today, egypt today

Egypt Today, egypt today European stocks slip despite Osborne comments

London's FTSE 100 index fell 0.7 percent to 6,098.70 points
London - AFP

European stock markets mostly slid Monday as British finance minister George Osborne attempted to calm jitters after last week's shock Brexit referendum. 

Britain's surprise referendum decision to leave the European Union wiped $2.1 trillion off market valuations on Friday and sent the pound collapsing to a 31-year low against the dollar. 

"The fallout from the UK’s vote against EU membership continues to ripple through financial markets," Accendo Markets analyst Mike van Dulken told AFP.

On Monday, London's benchmark FTSE 100 index of top blue-chip companies fell 0.7 percent to 6,098.70 points, compared with Friday's closing level.

The pound meanwhile dropped to $1.3392 but held above Friday's 31-year low of $1.3229 -- the worst level since September 1985.

Osborne sought to calm markets after the country's shock vote to leave the EU, and insisted it would be not rushed into a break-up despite pressure from EU leaders.

He said Britain's economy was "as strong as could be" to deal with the fallout of Thursday's momentous Brexit vote, which has already claimed the scalp of Prime Minister David Cameron and fuelled fears of a break-up of the United Kingdom.

In eurozone equity trading, Frankfurt's DAX 30 index dipped 0.1 percent to 9,544.0 points and the CAC 40 in Paris shed 0.2 percent to 4,097.3.

On the upside, Madrid's IBEX 35 index rallied almost three percent on investor relief over Spain's weekend election.

"The UK stock market has been relatively stable at the start of the week as investors absorb the ramifications of Friday’s momentous events, aided by reassuring comments from UK Chancellor Osborne," said RIA Capital Markets macro strategist Nick Stamenkovic.

"However, the pound looks vulnerable particularly against the dollar as investor demand for safe-haven assets persists."

US Secretary of State John Kerry is meanwhile due in London later in the day after a stop-off in Brussels, while the leaders of Germany, France and Italy will meet in Berlin to tackle the crisis.

No-frills airline EasyJet topped the FTSE 100 fallers board in London, tanking more than 15 percent to 1,116 pence after issuing a grim profits warning.

Banking sector share prices also nursed significant losses on Brexit worries, with Barclays down 0.7 percent, Royal Bank of Scotland losing 9.4 percent and Lloyds shedding 6.6 percent.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

european stocks slip despite osborne comments european stocks slip despite osborne comments



GMT 08:02 2015 Tuesday ,15 September

No snow: Californian water source at 500-year low

GMT 15:25 2018 Wednesday ,14 November

Friedrich Merz vows to steal half of AfD voters

GMT 06:53 2017 Saturday ,18 February

G20 foreign ministers vow to fight poverty in Africa

GMT 14:27 2017 Friday ,10 March

Hypercars mingle with station wagons

GMT 13:13 2011 Friday ,16 December

Hyundai i-oniq Concept for Geneva 2012

GMT 11:53 2011 Monday ,26 September

Guerrero: We’ve got Peruvians dreaming

GMT 18:17 2016 Sunday ,18 December

Iraqi warplanes bomb Daesh warehouses

GMT 16:54 2017 Sunday ,15 January

26 killed as Hadi forces push Houthis back

GMT 04:29 2016 Saturday ,25 June

A New Generation of Robots is Ready for the Market

GMT 12:31 2011 Saturday ,26 November

Google working on OnLive rival for Chrome OS
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday