In the immediate aftermath of the UK’s ‘out’ vote, the most significant impact was on UK-listed financial stocks. The shares of Barclays, Lloyds Banking Group and Royal Bank of Scotland were the three biggest fallers when the UK market opened on Friday. There was a similar impact on the pound: it fell almost 7% against the dollar – a traditional safe-haven currency – on the news when it was first announced. The price of gold – another safe haven when investors are worried – jumped as the news became apparent.
Edelman has prepared a full briefing on the implications of Brexit for the Financial Services sector in the UK, to read it please click here or see below. To view our global briefing for Financial Services, please click here.