uk market crash continues apace

Brexit
The gloomy chart showing the UK is already heading for recession
Matt Clinch  46 Mins Ago  CNBC.com                              
With the U.K. bracing for a downturn after the fallout from the Brexit vote last week, one chart highlights that the country may have already stumbled into an economic contraction.
Uncertainty over what deal the U.K. government could do with the EU has only replaced the uncertainty that businesses were initially facing from the vote itself. And with this concern looming over the economy the economic numbers trended lower as seen in the chart below.


Data firm Markit produces monthly surveys for manufacturing, construction and services sectors in the U.K. with all three indicators pointing to a downward move. A number below 50 marks a contraction in the sector with all three data points narrowly above that level in the May figures released on June 3.

Chris Williamson, the chief economist at Markit, said earlier this month that employment growth, backlogs of work and inflows of new business meanwhile all showed deteriorating trends.

"The manufacturing sector saw a near-stagnation of output growth for a second successive month in May, contrasting with robust growth earlier in the year. Growth has also slowed to a near-standstill in the construction sector," he said in the release.

"Although services growth accelerated slightly in May, the increase was still one of the weakest recorded in the past three years."
http://www.cnbc.com/2016/06/29/

4EVER2 wrote:

Brexit
The gloomy chart showing the UK is already heading for recession
Matt Clinch  46 Mins Ago  CNBC.com                              
With the U.K. bracing for a downturn after the fallout from the Brexit vote last week, one chart highlights that the country may have already stumbled into an economic contraction.
Uncertainty over what deal the U.K. government could do with the EU has only replaced the uncertainty that businesses were initially facing from the vote itself. And with this concern looming over the economy the economic numbers trended lower as seen in the chart below.


Data firm Markit produces monthly surveys for manufacturing, construction and services sectors in the U.K. with all three indicators pointing to a downward move. A number below 50 marks a contraction in the sector with all three data points narrowly above that level in the May figures released on June 3.

Chris Williamson, the chief economist at Markit, said earlier this month that employment growth, backlogs of work and inflows of new business meanwhile all showed deteriorating trends.

"The manufacturing sector saw a near-stagnation of output growth for a second successive month in May, contrasting with robust growth earlier in the year. Growth has also slowed to a near-standstill in the construction sector," he said in the release.

"Although services growth accelerated slightly in May, the increase was still one of the weakest recorded in the past three years."
http://www.cnbc.com/2016/06/29/

Hmmm, you might want to take a panoramic view of the economy that hasn't been doing so well!
And if PM Cameron had wanted to pick a worst moment in Britain's financial structure to allow the 'OUT' vote to happen ...well, doing this when Britain's economy is showing signs of going into another drastic 2009 free fall ...but perhaps your   is sprinkled with Fairy Dust and you have better tea leaves to read for factual data

World Stocks up as Worries Ease Over Britain's EU Leave Vote
By youkyung lee, ap business writer
SEOUL, South Korea — Jun 29, 2016, 6:48 AM ET
Global stocks rose sharply Wednesday as worries eased about the uncertainty that follows Britain's vote to leave the European Union. The British pound also rose as talks got underway among European leaders on how to handle the situation.
Britain's benchmark stock index, the FTSE 100, was up 2.6 percent to 6,298. It has not suffered much because many of its listed companies have global operation and the pound's drop to a 31-year low will help their exports and boost the value of earnings repatriated to Britain. Domestic companies have taken a much bigger hit.
Germany's DAX advanced 2 percent to 9,636 and France's CAC 40 gained 2.8 percent to 4,202. Futures augured a positive start for Wall Street. Dow futures added 0.6 percent and S&P futures rose 0.7 percent.
Investors appeared to have set aside their anxiety over Britain's vote, encouraged by solid data on the U.S. economy and housing market.
But analysts said market volatility could return any time and it is too early to say that investor confidence has made a full comeback since the vote for "Brexit," a British exit from the EU.
http://abcnews.go.com/Business/wireStory/asian-stocks-worries-britains-eu-leave-vote-ease-40210346

4EVER2 wrote:

Brexit
The gloomy chart showing the UK is already heading for recession
Matt Clinch  46 Mins Ago  CNBC.com                              
With the U.K. bracing for a downturn after the fallout from the Brexit vote last week, one chart highlights that the country may have already stumbled into an economic contraction.
Uncertainty over what deal the U.K. government could do with the EU has only replaced the uncertainty that businesses were initially facing from the vote itself. And with this concern looming over the economy the economic numbers trended lower as seen in the chart below.


Data firm Markit produces monthly surveys for manufacturing, construction and services sectors in the U.K. with all three indicators pointing to a downward move. A number below 50 marks a contraction in the sector with all three data points narrowly above that level in the May figures released on June 3.

Chris Williamson, the chief economist at Markit, said earlier this month that employment growth, backlogs of work and inflows of new business meanwhile all showed deteriorating trends.

"The manufacturing sector saw a near-stagnation of output growth for a second successive month in May, contrasting with robust growth earlier in the year. Growth has also slowed to a near-standstill in the construction sector," he said in the release.

"Although services growth accelerated slightly in May, the increase was still one of the weakest recorded in the past three years."
http://www.cnbc.com/2016/06/29/

Hmmm, you might want to take a panoramic view of the economy that hasn't been doing so well!
And if PM Cameron had wanted to pick a worst moment in Britain's financial structure to allow the 'OUT' vote to happen ...well, doing this when Britain's economy is showing signs of going into another drastic 2009 free fall ...but perhaps your   is sprinkled with Fairy Dust and you have better tea leaves to read for factual data

4EVER2 wrote:

World Stocks up as Worries Ease Over Britain's EU Leave Vote
By youkyung lee, ap business writer
SEOUL, South Korea — Jun 29, 2016, 6:48 AM ET
Global stocks rose sharply Wednesday as worries eased about the uncertainty that follows Britain's vote to leave the European Union. The British pound also rose as talks got underway among European leaders on how to handle the situation.
Britain's benchmark stock index, the FTSE 100, was up 2.6 percent to 6,298. It has not suffered much because many of its listed companies have global operation and the pound's drop to a 31-year low will help their exports and boost the value of earnings repatriated to Britain. Domestic companies have taken a much bigger hit.
Germany's DAX advanced 2 percent to 9,636 and France's CAC 40 gained 2.8 percent to 4,202. Futures augured a positive start for Wall Street. Dow futures added 0.6 percent and S&P futures rose 0.7 percent.
Investors appeared to have set aside their anxiety over Britain's vote, encouraged by solid data on the U.S. economy and housing market.
But analysts said market volatility could return any time and it is too early to say that investor confidence has made a full comeback since the vote for "Brexit," a British exit from the EU.
http://abcnews.go.com/Business/wireStory/asian-stocks-worries-britains-eu-leave-vote-ease-40210346

One can only 'hope & pray' that this just doesn't boom-a-rang back around
Britain had best get her 'ducks' in a row and rather rapidly too.

4EVER2 wrote:That would be going off topic wouldn't it?  I thought you wanted to discuss England's debacle but you're all over the place!
The 'OUT' vote caused the shock wave to the global markets...not what the British is producing within the EU agreements ...the graph is very apropos to the financial issues that the British are seeing and some of the justification for the 'OUT' get 'OUT' now votes; or so I'm told.

Tommy Monk wrote:The talk radio shows are full of Remainians pretending that they voted leave but didn't really know what that meant...


And other Remainians just repeating the same old scare stories from last week...


One woman wen on and on about how she was a mother and had 2 sons who had finished their education but then said they were both still at university and eventually said that she was now having trouble selling a house because of the Brexit vote... and that was the only reason she could come up with for why it would have been better to remain!!!


Another was going on about how it felt totally different when she woke up Friday morning to what it did when she went to sleep on WEDNESDAY NIGHT!!!

Not an active member of the Remain campaign who all had to stop campaigning on Wednesday night at all was she!!!

Lord Foul wrote:AS you are well aware Dean...from last friday onward

ANYTHING negative racist or snowflake upsetting will of course be a consequence of "brexit"
once the dust settles and things positive start happening it will be
"well we could have done that anyway"

all this pretence about racism when you consider how antisemetic the left is, is hot air and hypocrisy
ant te rst of their argument is down to te loss of their power base in brussels

Tommy Monk wrote:The talk radio shows are full of Remainians pretending that they voted leave but didn't really know what that meant...


And other Remainians just repeating the same old scare stories from last week...


One woman wen on and on about how she was a mother and had 2 sons who had finished their education but then said they were both still at university and eventually said that she was now having trouble selling a house because of the Brexit vote... and that was the only reason she could come up with for why it would have been better to remain!!!


Another was going on about how it felt totally different when she woke up Friday morning to what it did when she went to sleep on WEDNESDAY NIGHT!!!

Not an active member of the Remain campaign who all had to stop campaigning on Wednesday night at all was she!!!

eddie wrote:

The Devil, You Know wrote:

Tommy Monk wrote:The talk radio shows are full of Remainians pretending that they voted leave but didn't really know what that meant...


And other Remainians just repeating the same old scare stories from last week...


One woman wen on and on about how she was a mother and had 2 sons who had finished their education but then said they were both still at university and eventually said that she was now having trouble selling a house because of the Brexit vote... and that was the only reason she could come up with for why it would have been better to remain!!!


Another was going on about how it felt totally different when she woke up Friday morning to what it did when she went to sleep on WEDNESDAY NIGHT!!!

Not an active member of the Remain campaign who all had to stop campaigning on Wednesday night at all was she!!!

house prices will be affected more by the buy to let changes than any brexit worries. mines up around triple what I paid for it in 2009, it would need to fall a huge amount to worry me

Joe Rundle, head of trading at ETX Capital called this rally a dead cat bounce - a temporary recovery in prices as speculators try to cover their trades - in his latest research note.

"Sterling has rallied a little overnight but the margin is small compared to the 10 percent fall in cable since Friday. The FTSE 100 has also opened higher today but the mood is fragile and as fund managers start to flex their muscles there could be a long way to fall. This looks like a classic dead cat bounce."

London’s benchmark index fell through the 6,000 level yesterday as Brexit fears shook financial markets around the world.

Investors offloaded risky equities in favour of safe-haven assets after the latest referendum polls showed the Leave camp pulling ahead.

Anxiety about the UK’s possible exit from the European Union triggered the FTSE 100’s steepest daily fall since mid-February, with the blue chip index dropping 121.44 points, or 2.01pc, to 5,923.53.

In just four days, more than £98bn has been wiped off the value of Britain’s biggest companies.

Ben Reilly wrote:It'd be great if it was a true recovery and not a dead-cat bounce, but as Brexiteers kept saying just two days ago, it's still early:

Joe Rundle, head of trading at ETX Capital called this rally a dead cat bounce - a temporary recovery in prices as speculators try to cover their trades - in his latest research note.

"Sterling has rallied a little overnight but the margin is small compared to the 10 percent fall in cable since Friday. The FTSE 100 has also opened higher today but the mood is fragile and as fund managers start to flex their muscles there could be a long way to fall. This looks like a classic dead cat bounce."

http://www.cnbc.com/2016/06/28/global-markets-rally-a-dead-cat-bounce.html

And yeah, the FTSE is looking better now, but only because of the bloodbath of June 14:

London’s benchmark index fell through the 6,000 level yesterday as Brexit fears shook financial markets around the world.

Investors offloaded risky equities in favour of safe-haven assets after the latest referendum polls showed the Leave camp pulling ahead.

Anxiety about the UK’s possible exit from the European Union triggered the FTSE 100’s steepest daily fall since mid-February, with the blue chip index dropping 121.44 points, or 2.01pc, to 5,923.53.

In just four days, more than £98bn has been wiped off the value of Britain’s biggest companies.

http://www.telegraph.co.uk/business/2016/06/14/ftse-100-slides-towards-6000-and-pound-falls-as-brexit-fears-dri/

But that was a pretty decent attempt at spinning it, Tommy.

Tommy Monk wrote:Ben... what did I say that you think is me 'spinning' things...?

eddie wrote:And you don't think the articles you read contain spin?

Tommy Monk wrote:Can you prove your claim that Brexit had damaged the markets before the vote was held...?

Ben Reilly wrote:

eddie wrote:And you don't think the articles you read contain spin?

Not very many of them, no.

I actually identified Tommy's spin, you'll notice -- care to identify the spin in either of the articles I've cited?

They're based on two facts -- 1) An investment adviser said this looks like a dead cat bounce and 2) the FTSE plummeted on June 14.

eddie wrote:

Ben Reilly wrote:

eddie wrote:And you don't think the articles you read contain spin?

Not very many of them, no.

I actually identified Tommy's spin, you'll notice -- care to identify the spin in either of the articles I've cited?

They're based on two facts -- 1) An investment adviser said this looks like a dead cat bounce and 2) the FTSE plummeted on June 14.

Not very many, means some.
And that's a good enough omission to me.

Some articles are correct (mostly) most are partly correct.

Tommy Monk wrote:
Well the polls were predicting a remain result...

Tommy Monk wrote:Manufactured economic scare tactics...

HoratioTarr wrote:

Tommy Monk wrote:Manufactured economic scare tactics...

It's a tad pathetic, isn't it?   Now we're being told by France we can have a trade deal and control our borders.   Er....well...thanks.

Didge wrote:Its not even been a week yet and people are going off where we have not even issued article 50 yet. So there is bound to be some unceartainty, but the fact is, the economy has not taken any nose dive and no big companies have said they are pulling out. Mainly because untill trades are on the table, companies would not be the buisnesses they are to cut and run at the mere mention of fear talk

Ben Reilly wrote:

Didge wrote:Its not even been a week yet and people are going off where we have not even issued article 50 yet. So there is bound to be some unceartainty, but the fact is, the economy has not taken any nose dive and no big companies have said they are pulling out. Mainly because untill trades are on the table, companies would not be the buisnesses they are to cut and run at the mere mention of fear talk

But think about this, Didge. What did Cameron say pre-Brexit?

He said he was going to invoke Article 50 forthwith after the election. Instead, he resigned 3 hours after the result was declared.

So then the heir apparent becomes Boris Johnson, one of the hardest Brexit campaigners, and when he gets the chance to push the button himself, he says he won't stand for PM.

These guys understand what's coming and they don't want to be remembered as the guy who set it all off.

Ben Reilly wrote:

Didge wrote:Its not even been a week yet and people are going off where we have not even issued article 50 yet. So there is bound to be some unceartainty, but the fact is, the economy has not taken any nose dive and no big companies have said they are pulling out. Mainly because untill trades are on the table, companies would not be the buisnesses they are to cut and run at the mere mention of fear talk

But think about this, Didge. What did Cameron say pre-Brexit?

He said he was going to invoke Article 50 forthwith after the election. Instead, he resigned 3 hours after the result was declared.

So then the heir apparent becomes Boris Johnson, one of the hardest Brexit campaigners, and when he gets the chance to push the button himself, he says he won't stand for PM.

These guys understand what's coming and they don't want to be remembered as the guy who set it all off.

Ben Reilly wrote:

Didge wrote:Its not even been a week yet and people are going off where we have not even issued article 50 yet. So there is bound to be some unceartainty, but the fact is, the economy has not taken any nose dive and no big companies have said they are pulling out. Mainly because untill trades are on the table, companies would not be the buisnesses they are to cut and run at the mere mention of fear talk

But think about this, Didge. What did Cameron say pre-Brexit?

He said he was going to invoke Article 50 forthwith after the election. Instead, he resigned 3 hours after the result was declared.

So then the heir apparent becomes Boris Johnson, one of the hardest Brexit campaigners, and when he gets the chance to push the button himself, he says he won't stand for PM.

These guys understand what's coming and they don't want to be remembered as the guy who set it all off.