UK Boost Following Chinese Market SlumpAugust 25, 2015 2:12 pm
Another tricky day lies ahead as global markets opened again this morning following a bleak day yesterday.
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%.
Tags: shanghai composite, UK recession, value of the british pound
Categorised in: News
This post was written by Kayleigh Driscoll