No Point in Panic Selling, Look for Stock Opportunities

THE WEEK: The immediate reaction of markets was a sharp fall in sterling, a rise in the FTSE 100 index and a slump in the FTSE 250, Rodney Hobson stands firm

Rodney Hobson 9 June, 2017 | 10:52AM
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Ouch! The outcome of the General Election has left the Prime Minister with egg on her face. Calls for her resignation are growing but it is frightening to think who could possibly become Prime Minister if Theresa May stands down. The Brexit negotiators have been seriously undermined.

Pronouncements can easily be overtaken by events but at the time of writing it looks as if May will continue with support from the DUP, a combination that gives a Commons majority that is, in theory at least, pro-Brexit.

The immediate reaction of markets was a sharp fall in sterling, a rise in the FTSE 100 index and a slump in the FTSE 250, which is more dependent on the UK economy. In fact, the 250 index slumped midweek as well, as some investors saw the writing on the wall rather better than May.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
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Auto Trader Group PLC711.60 GBP0.00

About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.