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Boris Johnson’s move to cut parliament time sends Brexit-sensitive stocks down

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Boris Johnson’s move to cut parliament time sends Brexit-sensitive stocks down GlobeBusiness

The mid-cap FTSE 250 index was down 0.8 per cent at 1045 GMT, as worries that a disorderly no-deal Brexit would hurt the economy rose. Half of mid-caps’ income is generated in the UK.The index had gained in the previous session as sterling rose after a pledge by opposition parties to try to avert a no-deal Brexit.

But the rising possibility that Britain could quit the EU without an agreement kept many investors on the sidelines. Airlines, which are sensitive to consumer spending, were also under pressure. British Airways owner IAG was down 2 per cent and easyJet was down 5 per cent.Prudential, which has a big Asian exposure, fell 2.2 per cent to its lowest since November 2016 amid continued worries about damage to its business in Hong Kong due to the protests in the former British territory.WORST MONTH IN YEARS

 

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globebusiness Good, market needs volatility!

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