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Shares stage recovery after referendum meltdown

Discussion in 'Market News' started by Lily, Jun 28, 2016.

  1. Lily

    Lily Forum Member

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    Stock markets clawed back some of their losses on Tuesday, and sterling has also strengthened for the first time since Friday’s referendum result

    European stock markets are rallying in what analysts have dubbed a “dead cat bounce” bringing some respite after the UK’s vote to leave the European Union wiped $3tn off global stocks.

    In their worst-ever rout, equity markets lost $2.03tn of their value on Friday, with a further $930bn wiped off on Monday when ratings agencies Fitch and Standard & Poor’s both stripped Britain of its prized AAA credit rating. Some analysts have warned of a full-blown recession in the UK.

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