London markets to open, but face challenging day

London markets to open, but face challenging day

The London Stock Exchange will open as normal today following a Leave win in the EU referendum, Reuters has reported.

There had been suggestions overnight that the markets would stay closed today to allow volatility to subside. Markets are likely to take a hammering today, with those in Asia having already faced a difficult day; Tokyo’s main index, the Nikkei 225, closed down nearly 8 percent as the votes were counted.

Sterling has dropped to almost unprecedented levels, plummeting over 10 percent to hit a 31-year low; bonds were also sold off sharply, immediately affecting the cost of government borrowing. Traders worked throughout the night yesterday, attempting to contain losses as volatility swept across all sectors.

24/06/2016