UK Votes to Leave the EU – David Daniels Live Blog
2:16am ET 6/24/16 – UK Votes to leave the EU, The UK has voted to leave the European Union after 43 years in a historic referendum. Leave won by 52% to 48% with England and Wales voting strongly for Brexit, while London, Scotland and Northern Ireland backed staying in the EU. UKIP leader Nigel Farage hailed it as the UK’s “independence day” but the Remain camp called it a “catastrophe”. Read More
2:27am ET 6/24/16 David Daniels writes … Democracy is a lovely thing, but UK leaving the EU will shake up world wide markets, at 2:27am ET on 6/24/16, The Hang Seng is off 959 or about 5% and The Japan Nikkei is off 1286.00 or about 7.92%; early morning trading indicates that markets may/should be closed as SHORTs are raining down right now. (I am not giving stock advice), just reporting the facts of the UK EU exit and Asia markets at this time. Asia Market Data
2:40am ET 6/24/16 The UK currency (sterling/pound) is taking a beating. The pound is now below 1.37 exchange to US dollar, floor has been 1.34 Follow that
3:09am ET 6/24/16 Markets are down around from -5% to -9% at this time when the UK markets open, and that site link is down right now … stay tuned.
3:16am ET 6/24/16 hearing that we are waiting on Prime Minister, David Cameron to come out and resign his post because of these measures, this will have tremendous impact not only locally but globally.
3:21am ET 6/24/16 Prime Minister, David Cameron has made tremendous progress in his tenure with equality. He fought this campaign, thought that UK is better inside the EU union, and the UK people took a different path, but “I do not think that I should be the next captain” to steer them to this choice. “Delivering Stability will be important, The Bank of England are taking Steps.” “I have told the Queen … when to act on Article 50” “Britain is a special country, … and “I love my country and will do what I can do for my country.” UK Prime Minister Steps Down.
3:40am ET 6/24/16 Labour reaction to Cameron’s resignation, Angela Smith, a Labour MP, tells the Telegraph: “Labour needs now to show that it can offer constructive opposition in what is going to be a period of terrible political and economic instability for the country. We need leadership that will do that and commit to the very difficult task of helping to unite a very seriously divided nation.”
3:47 AM ET 6/24/16 – Mark Carney, Governor, Bank of England (a US man) – talks about raising “$130 billion pounds raise recently and $600 billion pounds of liquidity plus we will add $250 billion pounds additionally if needed. We promise to function in short-term volatility. That economy will adjust to new trade over time.” paraphrasing, but there is access to capital and clearly an injection of it to the market immediately. Market panic? gold is up.
4:08 AM ET 6/24/16 – EU in Country Markets, France and Germany are down – France CAC40 is off-7.99% today, Germany DAX is off 6.17% and UK FTSE is down at this time at -4,71% They need help but at what cost? margin?