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-   -   Post-Brexit Thread (https://www.cableforum.uk/board/showthread.php?t=33703180)

djfunkdup 29-06-2016 17:28

Re: Post-Brexit Thread
 
FTSE 100 soars 3.02% today, wiping out post-Brexit slump

The FTSE 100 is currently trading up 3.02%, which brings its gains across two-days to 5.7% .

The 5.7% rally wipes out its post-Brext two-day rout, which saw the blue chip index plunge 5.7%.



Update :

FTSE 100 Index
INDEXFTSE: UKX - Jun 29, 4:26 PM GMT+1
6,334.59 Price increase + 194.20 (3.16%)

Onwards and Upwards ;)

ntluser 29-06-2016 17:33

Re: Post-Brexit Thread
 
Quote:

Originally Posted by Ignitionnet (Post 35846936)
Less. The rest of the EU were jealous of the deal we had as far as contributions go, that'll be gone, so the amount may end up somewhat surprising.

We will have an 'itemised' bill, as it were, with contributions to various EU programmes if we want to participate in them, which we will, alongside the EEA grant.

I can almost see the UKIP posters complaining about still sending money to the EU now.

I suppose we will have to weigh up the details of the bill and see what options we have.

I think the big mistake of the last government was not explaining clearly to the people our terms of entry to the EU. Instead of giving the full details they concentrated on the "Project Fear" ones designed to get you to vote to stay.

Had they done so they could have detailed clearly in unemotional terms what the consequences of leaving really were because we would have understood the conditions of our contract with the EU.

As a consequence voters were not able to make a truly informed choice resulting in an unexpected EU referendum outcome.

Ignitionnet 29-06-2016 17:43

Re: Post-Brexit Thread
 
Quote:

Originally Posted by djfunkdup (Post 35846939)
FTSE 100 soars 3.02% today, wiping out post-Brexit slump)

Ya. The FTSE 100 does most of its business outside the UK, so may benefit from Sterling's weakness.

The top 5 firms on the FTSE 100 are Royal Dutch Shell, HSBC, British American Tobacco, BP and GlaxoSmithKline. None of these are especially dependent on the UK's economy.

The FTSE 250 is a more domestic index and a better guide to the economy's state.

We seem to be over the initial shock, which is nice. The economy has realised that we're still in the EU.

The next big event will probably be when it becomes clearer how our deal with the EU will look.

djfunkdup 29-06-2016 17:57

Re: Post-Brexit Thread
 
Quote:

Originally Posted by Ignitionnet (Post 35846943)
Ya. The FTSE 100 does most of its business outside the UK, so may benefit from Sterling's weakness.

The top 5 firms on the FTSE 100 are Royal Dutch Shell, HSBC, British American Tobacco, BP and GlaxoSmithKline. None of these are especially dependent on the UK's economy.

The FTSE 250 is a more domestic index and a better guide to the economy's state.

We seem to be over the initial shock, which is nice. The economy has realised that we're still in the EU.

The next big event will probably be when it becomes clearer how our deal with the EU will look.

Slight increase in the 250 as well but still another + 10% gain to stabilize so it's on the right track Mr Ignitionnet :)

FTSE 250 Index
INDEXFTSE: MCX - Jun 29, 4:35 PM GMT+1
16,002.90 Price increase 499.84 + (3.22%)



Onwards and Upwards :):)

Big Brian 29-06-2016 17:57

Re: Post-Brexit Thread
 
Quote:

Originally Posted by Gavin78 (Post 35846927)
So my understanding of it is that if they allow freedom of movement we can trade. but I am guessing there will be other policies in place?

Yes. The final one being a Stuff You Policy where we become a Free Trade economy. Having said that, it wouldn't be in the interest of the EU for us to stop trading altogether.

ntluser 29-06-2016 18:15

Re: Post-Brexit Thread
 
Quote:

Originally Posted by djfunkdup (Post 35846944)
Slight increase in the 250 as well but still another + 10% gain to stabilize so it's on the right track Mr Ignitionnet :)

FTSE 250 Index
INDEXFTSE: MCX - Jun 29, 4:35 PM GMT+1
16,002.90 Price increase 499.84 + (3.22%)



Onwards and Upwards :):)

It's good news that things are starting to stabilise and improve.

Damien 29-06-2016 18:17

Re: Post-Brexit Thread
 
Quote:

Originally Posted by Ignitionnet (Post 35846943)
Ya. The FTSE 100 does most of its business outside the UK, so may benefit from Sterling's weakness.

The top 5 firms on the FTSE 100 are Royal Dutch Shell, HSBC, British American Tobacco, BP and GlaxoSmithKline. None of these are especially dependent on the UK's economy.

The FTSE 250 is a more domestic index and a better guide to the economy's state.

We seem to be over the initial shock, which is nice. The economy has realised that we're still in the EU.

The next big event will probably be when it becomes clearer how our deal with the EU will look.

FT has something here: https://next.ft.com/content/869a271c...1-f39d50872710

The prospect of EEA is helping.

martyh 29-06-2016 19:25

Re: Post-Brexit Thread
 
Quote:

Originally Posted by Big Brian (Post 35846945)
Yes. The final one being a Stuff You Policy where we become a Free Trade economy. Having said that, it wouldn't be in the interest of the EU for us to stop trading altogether.

Every thing i have read the last few days seems to be all about signing back into the EU after we leave ,stay in the single market ,pay loads of money to the EU ,retain free movement ,what the hell was that referendum for ? it must have been a way to kill of the Labour party and get shot of Scotland cos it sure as hell doesn't look like we'll be leaving the EU .

Damien 29-06-2016 19:31

Re: Post-Brexit Thread
 
Quote:

Originally Posted by martyh (Post 35846969)
Every thing i have read the last few days seems to be all about signing back into the EU after we leave ,stay in the single market ,pay loads of money to the EU ,retain free movement ,what the hell was that referendum for ? it must have been a way to kill of the Labour party and get shot of Scotland cos it sure as hell doesn't look like we'll be leaving the EU .

Leaving the EU meant different things to different people. The people taking over the Tory party were most concerned about sovereignty, especially Gove, and range from either not fussed by migration to pretty positive on migration. To them a EEA deal is a worthwhile win. Of course cynically maybe others thought they would lose but further their career and now want the easiest option possible. ;)

It's UKIP and a handful of Tory and Labour politicians whose main problem was freedom of movement.

None of them care about the payment to the EU imo. It's nothing compared to the size of government budgets especially if you factor in the boost of the single market.

Osem 29-06-2016 19:31

Re: Post-Brexit Thread
 
Quote:

Originally Posted by djfunkdup (Post 35846939)
FTSE 100 soars 3.02% today, wiping out post-Brexit slump

The FTSE 100 is currently trading up 3.02%, which brings its gains across two-days to 5.7% .

The 5.7% rally wipes out its post-Brext two-day rout, which saw the blue chip index plunge 5.7%.



Update :

FTSE 100 Index
INDEXFTSE: UKX - Jun 29, 4:26 PM GMT+1
6,334.59 Price increase + 194.20 (3.16%)

Onwards and Upwards ;)

Shhhhhhhhhh FGS!!!!!

We wouldn't want anyone to know would we, wouldn't want to do anything to stifle the hysteria that's filled the airwaves lately. What'll all those roving reporters have left to serve up if there's no panic, no fear?...

Watching/listening to some of the stuff I've heard over the last few days, anyone would think we're experiencing the fall of Rome. The boring reality is that the markets will continue to rise and fall along with the value of our currency but there's no sexy headlines in good news so it'll be carry on panicking whenever the markets miss a beat.

On the subject of hate, I was just listening to Margaret Becket on LBC talking about the 'hate' being unleashed by Momentum supporters protesting about the bid to remove Corbyn. Apparently he and McDonnell still weren't too bothered about it when it was moist recently brought to their attention. Odd how that hasn't had quite the media attention that the actions of a fairly small number of racist morons have but there again, it doesn't do to have a balanced argument when there's a bandwagon to be jumped upon.

denphone 29-06-2016 19:32

Re: Post-Brexit Thread
 
Quote:

The journalist Paul Mason says the EU leaders beefed up the draft of the communique they issued at the end of their “EU27” meeting today (the one Britain was not invited to) to make it clear they they will fight any attempt by David Cameron’s successor to try to get access to the single market while not allowing free movement.
http://www.theguardian.com/politics/...byn-leadership

ntluser 29-06-2016 19:38

Re: Post-Brexit Thread
 
Quote:

Originally Posted by martyh (Post 35846969)
Every thing i have read the last few days seems to be all about signing back into the EU after we leave ,stay in the single market ,pay loads of money to the EU ,retain free movement ,what the hell was that referendum for ? it must have been a way to kill of the Labour party and get shot of Scotland cos it sure as hell doesn't look like we'll be leaving the EU .

We can leave the EU properly but we'll have to give up trading with Europe and trade with rest of the world instead.

However, Scotland would probably go for a referendum and maybe Northern Ireland and Wales will follow too.

Many of the immigrant related problems are really failures by the UK government and local government to come up with a plan to manage immigrants in a way that offsets the disadvantages experienced by UK nationals.

martyh 29-06-2016 19:42

Re: Post-Brexit Thread
 
Quote:

Originally Posted by Damien (Post 35846971)
Leaving the EU meant different things to different people. The people taking over the Tory party were most concerned about sovereignty, especially Gove, and range from either not fussed by migration to pretty positive on migration. To them a EEA deal is a worthwhile win. Of course cynically maybe others thought they would lose but further their career and now want the easiest option possible. ;)

It's UKIP and a handful of Tory and Labour politicians whose main problem was freedom of movement.

None of them care about the payment to the EU imo. It's nothing compared to the size of government budgets especially if you factor in the boost of the single market.

I would say the voting public are wanting freedom of movement gotten rid of and no money going to Europe ,to them that is what they voted for ,it's certainly what i voted for

---------- Post added at 18:42 ---------- Previous post was at 18:39 ----------

Quote:

Originally Posted by ntluser (Post 35846974)
We can leave the EU properly but we'll have to give up trading with Europe and trade with rest of the world instead.

However, Scotland would probably go for a referendum and maybe Northern Ireland and Wales will follow too.

Many of the immigrant related problems are really failures by the UK government and local government to come up with a plan to manage immigrants in a way that offsets the disadvantages experienced by UK nationals.

Nobody says we won't be able to trade with Europe ,we will, just not for free.

Should also add that that it shouldn't be that costly either since we already have the required standards in place ,the only extra expense would be a tax which all other countries have to pay anyway

Big Brian 29-06-2016 19:44

Re: Post-Brexit Thread
 
Quote:

Originally Posted by martyh (Post 35846969)
Every thing i have read the last few days seems to be all about signing back into the EU after we leave ,stay in the single market ,pay loads of money to the EU ,retain free movement ,what the hell was that referendum for ? it must have been a way to kill of the Labour party and get shot of Scotland cos it sure as hell doesn't look like we'll be leaving the EU .

My sentiments exactly. I don't want any part of it except trade.

ntluser 29-06-2016 19:46

Re: Post-Brexit Thread
 
I voted on David Cameron's deal, which I considered to be derisory.

The EU seems to have a lot of conditions built in to their trade arrangement and unfortunately a lot of them are not liked by the UK public.

David Cameron is right that we cannot have the benefits of the single market without accepting conditions which the public feel are unacceptable.


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