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Markets calm ahead of Mark Carney's Brexit speech – business live

Discussion in 'Market News' started by Lily, Jun 30, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Bank of England governor will aim to reassure nervous investors following the EU referendum

    8.21am BST

    Bank shares have been pummelled since the referendum result, including Virgin Money’s which at one point had lost 30% of its value.

    The bank’s boss Jayne-Anne Gadhia has told BBC Radio 4 Today programme
    that sentiment should improve.

    “Post-Brexit we should all get together and have confidence about the future.”

    8.13am BST

    When the going gets tough, you need a tough central banker to step in.

    Related: Mark Carney to live broadcast statement to soothe market anxieties

    In the UK the main event for markets is likely to be a hastily scheduled speech by Governor Carney with the title “Uncertainty, the economy and policy”. This will be at 4pm BST.

    Given the title of the speech we would anticipate getting some clues on whether our expectation of prompt rate cuts and a QE extension is what the Governor has in mind.

    7.58am BST

    Good morning.

    There’s an eerie calm in the financial markets this morning. After a week of wild, referendum-fuelled moves, traders are taking a breather while they wonder how the Brexit saga will play out.

    #FTSE100 called to open +10pts at 6345. That would be its most tepid open since last Tues, with daily calls of -560pts to +90pts since

    Related: FTSE 100 now above pre-Brexit vote levels

    Daily FTSE 100, is USD terms.
    Recover what?
    cc @LorcanRK pic.twitter.com/4yfzeG88Ng

    On our way to @Nomura this morning for #thecityukconf, excited to hear from so many industry leaders

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