The Week In Numbers: Life After Brexit

How wrong can be the experts be? They said it was going to be bad. But the exact opposite happened. Singapore’s Straits Times Index (SGX: ^STI) ended up 4% in the week following Britain’s decision to leave the European Union. Global markets also went on a charge. The Dow Jones Industrial Index jumped 549 points to 17,949 points and the Nikkei 225 put on 373 points to 15,682. The FTSE 100 rose to its highest level this year.

Maybe the surge in global equities was a result of central bankers’ pledge to intervene in volatile markets. Britain said it was prepared to pump £250 billion into the markets. Mark Carney, the governor of the Bank of England, also has an important decision to make about interest rates, when the rate-setting committee meets this month. A cut in the cost of borrowing is on the cards.

Staying in the UK, the Baltic Exchange and Singapore Exchange (SGX: S68) have extended exclusive negotiations to 31 August. SGX will now have until the end of next month to make a decision on whether to buy the data provider of global shipping rates.

And whilst many have been losing their heads over Brexit, City Developments (SGX: C09) is loving every minute of it. The developer said it believes that these uncertain times may be the best opportunities to pick up assets from anxious owners looking to sell.

And finally, Brexit has put paid to the UK Chancellors budget plans. George Osborne said the UK was unlikely to return to the black by 2020. He said the government would continue to be tough on the deficit but it had to be realistic about achieving a surplus by the end of the decade.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.