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UK Boost Following Chinese Market Slump

August 25, 2015 2:12 pm Published by

Another tricky day lies ahead as global markets opened again this morning following a bleak day yesterday.

A spiralling panic ensued in yesterdays market after billions of Pounds were lost after China’s equivalent to the FTSE – Shanghai Composite – slumped more than 8%.

Markets reacted to the turbulence from China and yesterday was recorded as the worst day for the London stock market since March 09, in the midst of the recession.

Shanghai

Authorities in China have ploughed approx. £125 billion into shares over the last 7 weeks in a vain attempt to stabilise the market to no avail.

Shocking figures show that more than £3.5 Trillion has been wiped off the value of China’s leading companies – twice the size of the UK’s entire economy!

The surprising news is that European markets bounced back today and Britain’s leading FTSE 100 index opened up 1.7%. China has announced a cut in interest rates which will take effect on Wednesday; a move which has boosted European share prices with the FTSE 100 in London jumping to 3.3%.

 

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This post was written by Kayleigh Driscoll

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