Blog Post

Initial market reactions to Brexit

Initial market reactions to Brexit

By: Date: June 24, 2016 Topic: Macroeconomic policy

Markets have reacted strongly to this morning’s news. Stock prices have fallen throughout the world, the yields on government bonds of EU periphery countries have increased, and the pound has experienced its largest fall in years.

Table 1: Stock markets

Country Stock market index 23 June – closing 24 June – opening lowest value 24 June – latest to 4pm
Index % change from 23 June Index % change from 23 June
UK FTSE 100 6,316 5,805 -8.09 6,182 -2.12
Germany DAX 10,226 9,318 -8.88 9,618 -5.95
France CAC 4,465 4,038 -9.56 4,152 -7.01
Spain IBEX 8,873 7,795 -12.15 7,892 -11.06
Italy FTSE MIB 17,945 15,856 -11.64 16,109 -10.23
Greece ASE 928.85 785.38 -15.45 800.64 -14
Portugal PSI 20 4,689 4,346 -7.31 4,368 -6.85
Japan NIKKEI 225 16,238 15,871 -2.26 14,652 -9.77

Table 2: 10 Year Government Bond Yields

23/06/2016 18:00 24/06/2016 12:00 24/06/2016 16:00
UK 1.38 1.09 1.09
DE 0.09 -0.08 -0.06
IT 1.32 1.41 1.46
ES 1.47 1.56 1.60
FR 0.46 0.33 0.37
PT 3.10 3.26 3.35
US 1.73 1.51 1.57

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