Home Stock & Shares Pound and property shares go downward

Pound and property shares go downward

by Paul

Shares in property firms dragged the FTSE 100 lower after Standard Life Investments suspended trading in its UK property fund.

The company blamed the move on “exceptional market circumstances” following the EU referendum result.

The FTSE 100 index fell 35.33 points to 6,486.93, while the FTSE 250 sank 374.05 points, or 2.3%, to 15,742.65.

The pound was down sharply, dropping 0.8% against the dollar to $1.3177 (£1.00) and down 0.9% against the euro to €1.1814 (£1.00).

Analysts are waiting for the Bank of England’s latest Financial Stability Report, due out later. The Bank is expected to relax capital requirement rules for banks following the referendum result.

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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