Market Pulse
London pre-open: Stocks to slide on Brexit woes
London stocks were expected to open sharply lower on Monday as investors continue to worry about the impact of the UK’s vote to leave the European Union.
EasyJet warns on profit and revenue from Brexit and other disruptions
EasyJet warned that profits were lower than expected in the third quarter and that UK decision to Leave the EU is likely to mean revenues in the second half of the year will be lower than last year, while costs will be £25m higher due to oil and currency movements.
Ultra Electronics trades in line in first half
International defence, security, transport and energy company Ultra Electronics issued a pre-close trading statement on Monday, ahead of its interim results for 2016, and confirmed trading in the first half has been as expected.
Monday newspaper round-up: Soros and Roubini, bank Brexit, National Grid
Disintegration of the European Union is practically irreversible after Britain’s decision to leave, according to the man who banked a £1 billion profit after betting on a collapse in the pound in 1992. George Soros, the financier who also predicted that last week’s result would send the pound falling, said that the decision was fraught with further uncertainty and political risk for Britain “because what is at stake was never only some real or imaginary advantage for Britain but the very survival of the European project”.
US close: Wall Street hit by risk aversion after Brexit
Stocks on Wall Street registered sharp losses, as investors reacted to news that UK voters had opted to leave the European Union, albeit slightly smaller ones than those seen in August 2015 when fears of a Chinese devaluation hit markets.