The most interesting time since the Cuban missile crisis.
However the FT has risen a bit so I assume we won't really be leaving the EC. They'll probably make out we've left a bit but things will remain the same. The thicker end of the Brexit people won't realise!
Madame Arcati posted:velvet donkey posted:Roger the Alien posted:Does anyone else agree this has been the strangest week [politically] they've ever known? Each day reading the headlines, it feels like April 1st
Breaking news on Reuters is that the Solomon Isles are about to invade
Crikey! I'm off down the Co-op to stock up on single malt!
Sounds like a damn good plan to me Madame 
Garage Joe posted:The most interesting time since the Cuban missile crisis.
However the FT has risen a bit so I assume we won't really be leaving the EC. They'll probably make out we've left a bit but things will remain the same. The thicker end of the Brexit people won't realise!
What an excellent solution. You're right, of course! Thanks GJ 
Madame Arcati posted:velvet donkey posted:Roger the Alien posted:Does anyone else agree this has been the strangest week [politically] they've ever known? Each day reading the headlines, it feels like April 1st
Breaking news on Reuters is that the Solomon Isles are about to invade
Crikey! I'm off down the Co-op to stock up on single malt!
velvet donkey posted:Thicker end of Brexit.
No a bad insult.
Well we don't believe that you can generalise Brexit peepil.
Garage Joe posted:The most interesting time since the Cuban missile crisis.
However the FT has risen a bit so I assume we won't really be leaving the EC. They'll probably make out we've left a bit but things will remain the same. The thicker end of the Brexit people won't realise!
Wonder if the thicker end of Remain will ....oh hang on, there weren't any 
Baz posted:Garage Joe posted:The most interesting time since the Cuban missile crisis.
However the FT has risen a bit so I assume we won't really be leaving the EC. They'll probably make out we've left a bit but things will remain the same. The thicker end of the Brexit people won't realise!
Garage Joe posted:The most interesting time since the Cuban missile crisis.
However the FT has risen a bit so I assume we won't really be leaving the EC. They'll probably make out we've left a bit but things will remain the same. The thicker end of the Brexit people won't realise!
Interesting theory. I wouldn't recommend running with it though, you might be very surprised
squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
Kaffs posted:squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
Early days - Rome wasn't built in a day and all that.
squiggle posted:Kaffs posted:squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
Early days - Rome wasn't built in a day and all that.
Oh I think there's a long way to go yet... and it's too early to feel comforted imo
Kaffs posted:squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
We have to be careful about this FTSE 100 "recovery". Two-thirds of FTSE 100 stocks are still below last Thursday's position; one-third are more than 10% down and one-seventh (i.e. around 14 companies) are more than 20% down.
Today's increase is almost entirely down to a very small number of very large companies such as Shell, BP, BAT, Diageo, AstraZeneca, and GlaxoSmithKline. Significantly the FTSE 250 is still way down on Thursday: basically, the smaller you are, the more you've been hit.
Also - as Garage Joe and EC have pointed out - in the initial panic, a lot of people seemed to forget that we haven't actually left the EU yet: and won't officially for some time yet. That belated realisation has allowed time for the market to stabilize.
As I said on another thread a while back, the Brexit fallout "will go on for years". Short term market fluctuations don't mean a lot either way. Rapid stock market rises are halted by traders cashing in; rapid stock market falls are halted by traders taking the opportunity to buy stocks cheap. It looks like the latter is what happened today: basically the city traders went bargain-hunting.
It reminds me of the Dot-Com crash some years ago. Initially all tech stocks were hit badly, but then some clever traders realised that many of these companies weren't affected by the bubble at all, and were therefore able to buy up stable and valuable stocks such as IBM cheaply. I think that's what's happening here: the realisation that all stocks aren't equal. Those companies that aren't affected much by the EU and/or are big enough not to care are recovering, but smaller companies still need to be concerned.
Eugene's Lair posted:Kaffs posted:squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
We have to be careful about this FTSE 100 "recovery". Two-thirds of FTSE 100 stocks are still below last Thursday's position; one-third are more than 10% down and one-seventh (i.e. around 14 companies) are more than 20% down.
Today's increase is almost entirely down to a very small number of very large companies such as Shell, BP, BAT, Diageo, AstraZeneca, and GlaxoSmithKline. Significantly the FTSE 250 is still way down on Thursday: basically, the smaller you are, the more you've been hit.
Also - as Garage Joe and EC have pointed out - in the initial panic, a lot of people seemed to forget that we haven't actually left the EU yet: and won't officially for some time yet. That belated realisation has allowed time for the market to stabilize.
As I said on another thread a while back, the Brexit fallout "will go on for years". Short term market fluctuations don't mean a lot either way. Rapid stock market rises are halted by traders cashing in; rapid stock market falls are halted by traders taking the opportunity to buy stocks cheap. It looks like the latter is what happened today: basically the city traders went bargain-hunting.
It reminds me of the Dot-Com crash some years ago. Initially all tech stocks were hit badly, but then some clever traders realised that many of these companies weren't affected by the bubble at all, and were therefore able to buy up stable and valuable stocks such as IBM cheaply. I think that's what's happening here: the realisation that all stocks aren't equal. Those companies that aren't affected much by the EU and/or are big enough not to care are recovering, but smaller companies still need to be concerned.
Thanks Eugene... totally agree. A week after the vote and realistically years away from 'exit' (IF it happens and I'm still hoping against hope it doesn't) is just a tad early to be smug in my opinion.
I don't want to be smug - I suspect when we go we all go together!
Kaffs posted:squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
Yeah, but it and most of everything else has gone up to some degree.
Extremely Fluffy Fluffy Thing posted:Kaffs posted:squiggle posted:Just as an aside....
As predicted the FTSE 100 is now ABOVE its pre-referendum high...Armageddon postponed again...please check back again tomorrow!
Currency's got a way to go yet
Yeah, but it and most of everything else has gone up to some degree.
A very slight degree but to be fair everything is still very much up in the air... I don't think anyone can claim everything's ok until Brexit's happened and for some time after. A snapshot of the situation today means nothing really - as Eugene explains much better above. However, today's snapshot is having an effect on our business so I hope the currency starts to climb and things stabilise at a reasonable level. Then everyone can be a smug and patronising as they want.
Moonie posted:I have just heard that dear old Boris is no longer going to be in the running for Tory party leader?
Announced five minutes or so before the deadline.
I love the sound of breaking glass...
Baz posted:Moonie posted:I have just heard that dear old Boris is no longer going to be in the running for Tory party leader?
Yes , but at least it's a slightly more of a dignified transition than what is going on with the other side
As dignified as he can be having realised he's got the result he didn't really want and doesn't want to go down in history as being the guy who pulled the trigger on the Brexit disaster and has now been stabbed in the back by the guy who already stabbed his own mate in the back to help him try to nick his job. Who says karma only gets you in the next life. Yes, though, slightly more dignified than what the Labour MPs are doing to Jezza.
