Osborne calms markets as FTSE 100 only down 0.8%; Gilt yields fall to 1% for first time ever

Futures markets had predicted 3% opening fall

Katrina Lloyd
clock • 3 min read

The FTSE 100 opened down 0.8% in the second day of trading following the Brexit vote decision while 10-year gilt yields have fallen to an historic 1%, as Chancellor Osborne moved to reassure markets with an early morning statement saying the UK was "open for business".

The FTSE 100 was trading at 6,090 this morning, down 0.8%, with the biggest fallers including easyJet which fell 8% and Barclays 6% lower. Commodities were the biggest risers with AngloAmerican, Randgold Resources and Rio Tinto all up more than 1.5%. However, the FTSE 250 is 2% lower this morning after suffering its worst ever trading day on Friday, when it fell 7% with banks and housebuilders among the worst victims. Meanwhile, 10-year gilt yields have fallen to 1% for the first time ever in their history as investors seek the safety of government bonds. Futures markets had pre...

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