Shares in a number of FTSE 100 firms were temporarily suspending this morning, as the Brexit crisis continued unabated.
Automatic suspension was triggered on shares in Barclays, RBS, Taylor Wimpey, Berkeley Group and Legal & General, following large movements in their prices.
In addition, the pound hit a new 31-year low against the US dollar. Sterling fell over four cents to $1.3220, a level last seen back in 1985.
Meanwhile, the interest rate on UK 10-year bonds fell to 1% for the first time ever.
George Osborne sought to reassure the markets at 7am this morning, outlining what has been put in place to deal with the huge levels of uncertainty following the EU referendum. He added there there would not be an emergency Budget until a new prime minister was in place.
Boris Johnson told reporters this morning: “I think it’s very good news that the chancellor has come out and said some reassuring things to the markets and it’s clear now that Project Fear is over, there’s not going to be an emergency budget, people’s pensions are safe, the pound is stable, the markets are stable and I think that’s all very good news.”
