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Rising political tensions around the brexit agreement lead to a fall in prices on the financial markets. The pound fell sharply, the stock prices of some British banks fell and the European stock markets close to 0.5%. Eurobuses are rather afraid of a strong wind.
The price of the British pound fell by nearly 2% during the day, falling to 1.12 euros. The UK stock market did not suffer a loss, but the brexitzhorgen hit prices hard for banks, construction companies and retailers. A Brexit without agreement leads to a cheaper British pound and higher prices, and affects businesses, consumers and investors. RBS lost 9.5%, Barclays more than 4%. The two banks also recently failed bank stress tests and, in a crisis scenario, were reduced because of the required buffers.
In the third quarter, RBS had booked more than 100 million euros for "an increase in economic uncertainties," according to the brief. "The risk of a messy Brexit has increased," said Katie Murray, the bank's chief financial officer. Since the financial crisis, RBS is largely in state hands, as is ABN Amro. The UK government still holds 62% of the shares.
Barclays felt that it was not necessary to provide for a brexit clause, even though bank customers were sometimes hit by a financial crisis, so it sounded. ]
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