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FTSE shock after May calls election

18 April 2017

Prime Minister Theresa May today (18th April 2017) announced plans to call for a general election.

Roy Kaitcer, Investment Manager at Redmayne-Bentley, said: “The FTSE spun into turmoil this morning, falling some 115 points to 7212 after Theresa May has called a general election for June 8th.  As I write, Sterling has strengthened to 126.46 against the US Dollar and 118.60 against the Euro. Could this be that a decision to leave the EU could be reversed should a Labour government get into power?

“As we all know Theresa May has already triggered Article 50 and this two-year process was already going to be a tricky course to navigate.  A new government, however, would be up against the clock. It would have to make that U-turn before the rest of the EU voted on the Article 50 request and certainly before the two-year deadline lapsed.

“One thing is quite clear: that markets and currencies will remain volatile for the next six weeks.”

 

Contact:
Ruth Peterson
PR Executive
Email: ruth.peterson@redmayne.co.uk
Tel: 0113 200 6476

Branch: Leeds (Head Office)

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