Michael Murray: Stock markets cast adrift by political cyclone

Investors are bracing for a new wave of stock market turmoil as profit warnings start to flow

3rd July, 2016
The MSCI Emerging Markets Index rose 34 per cent last year, compared with an 8 per cent increase in the FTSE 100 Index Pic: Getty

Despite a stock market rally in the second half of last week, the impact of the Brexit ballot has spooked stock markets across Europe, with traders braced for further share sell offs in key sectors over the coming months.

The impact of a fall on broader consumer and business confidence will soon feed through to reduced consumer and capital spending. This in turn will impact on corporate earnings - profit warnings will ensue and share...

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