As was widely expected, this morning\u2019s Brexit announcement saw financial markets react adversely as the City opened for business, both the FTSE and Pound fell sharply in early trading. However, since then, both have regained some of the lost ground \u2013 at close of business today the FTSE 100 had finished at 6138, which is\u00a02% higher than the level we saw only a week ago.<\/p>\n
Markets are likely to remain volatile over the coming days, and further falls are possible as the political landscape remains uncertain \u2013 but today\u2019s fluctuation highlights why it is important not to act in haste.<\/p>\n
History shows that markets also have a tendency to overcorrect – wherever the bottom may be we are likely to see a swift bounce from that level \u2013 timing is all-important and knee-jerk panics can prove very costly.<\/p>\n
Many financial experts expect the dust to settle quickly, as one commentator put it; \u201cwith a dawning realisation that everything has changed and nothing has changed.\u201d For the majority of UK companies it will be a case of business as usual on Monday and Brexit will prove to be yet another hurdle to successfully negotiate \u2013 it will take a minimum of two years to organise Britain\u2019s exit from the EU, and it may even take far longer.<\/p>\n
The Bank of England moved swiftly to ease concerns and the Banks monetary policy will remain supportive \u2013 interest rates rises are unlikely to be welcomed by anyone at this point in time \u2013 especially in light of the and widespread pre-referrendum scaremongering regarding the property market.<\/p>\n
The Financial Planning Group will be updating our website regularly as events unfold \u2013 as well as sharing this information via email with our clients, please follow us on Twitter or subscribe to our monthly e-newsletter service.<\/p>\n
Seeking simple, structured, disciplined and reviewable financial planning advice\u00a0is something you may also wish to consider at the moment. Our aim is to always help\u00a0our clients\u00a0change the fundamental relationship they\u00a0have with your\u00a0money, and in doing so, this often gives them\u00a0confidence and clarity in their own futures.<\/p>\n
If you would like to arrange an initial consultation, then please call Tim Norris or Alan Clifton on 0800 731 7614 and we would be delighted to arrange a meeting at our offices in the heart of Teddington.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" As was widely expected, this morning\u2019s Brexit announcement saw financial markets react adversely as the City opened for business, both the FTSE and Pound fell sharply in early trading. However, since then, both have regained some of the lost ground \u2013 at close of business today the FTSE 100 had finished at 6138, which is\u00a02% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[20],"class_list":["post-1506","post","type-post","status-publish","format-standard","hentry","category-news","tag-brexit"],"yoast_head":"\n