A large majority of big businesses and a little more than half of small firms opposed Britain leaving the EU – at least if the polls are to be believed. Now that the vote has gone against them, companies and trade bodies have been scrambling to reassure their investors and to help influence the future of thecountry’s relationship with its continental neighbours.
A few FTSE firms have put out statements to the stock market. On Friday British Airways owner IAG and easyJet, the latter of which had been particularly vocal in opposing Brexit, immediately put out statements saying they were confident it would not have a long term material impact on their ability to make money for shareholders. WPP boss Martin Sorrell called for some ‘stiff upper lip’ while warning that uncertainty will slow decision making.
Today shares in London-focused estate agent Foxtons plummeted after it admitted at upturn it was expecting in the capital’s property market was now ‘unlikely to materialise’. That drop was mirrored by big house builders including Barratt and Bovis and several banks – shares in RBS and Barclays were suspended today because of volatility.
Sign in to continue