back to article Technology shares slide with Brexit vote, except ARM

Shares in British technology companies are mostly sliding after citizens of the United Kingdom voted for the nation to leave the European Union. The FTSE 100 fell more than 8 per cent at opening this morning, slicing over £100bn off of the market capitalisation of the UK's most highly rated bluechips, although this has since …

  1. Ginger


    I see what you did there

  2. Anonymous Coward
    Anonymous Coward


    Well now the leave voters have wiped £100bn off the economy. They can now put the £6bn saved in EU fees into the NHS.

    Oh wait.

    If the country recovers I can definitely see a case for spending more on Northerners to better educate them in simple maths.

    Full Disclosure: I was born and raised in Cheadle. Im a Manc.

    1. Anonymous Coward
      Anonymous Coward

      Re: *facepalm*

      London and the south-east has been bankrolling the country for a long time. Now the country has torpedoed the very industry that was paying the bills. I don't think we'll be spending more on northerners, or on anybody else, for a good while. Tighten your belts.

      Full Disclosure: I'm Scottish, living in England.

    2. Jimmy2Cows Silver badge

      Re: *facepalm*

      Comparing apples with oranges. The valuations of publically traded businesses are not the same as the amount of taxpayer funds a country has in its economy.

      By your logic and FTSE trace, the economy has repeatedly lost then regained way more than £100bn over the last 2 years. Which obviously is a pile of horse shit.

      The stock market moves up and down all the time. That does not mean the economy does. All this is, is another market dip which will stabilise like it always does once the dust settles and people get their collective heads around wtf just happened. Already started. Market dip is currently ~4%, half of the ~8% drop from the initial panic.

      1. Anonymous Coward
        Anonymous Coward

        Re: *facepalm*

        But the stock market an indicator of future cashflows/divis from the business and some arbitrage pricing built in. If they (share prices) fall its an indicator usually that the expectation is that future cashflows will be lower (unlikely to be pre/post dividend movement if they all move together).

        If the markets think that Divis will be lower going forward it will usually mean that its harder to raise finance for business from share issues - so yes a general drop in share price and or in specific industries does indicate that financing for business will be harder and that profits are expected to be substantially lower. My company has just experienced a 20 odd percent drop in share price - this impacts not only our ability to raise cash it also means that employees with saye for instance will spend less money (thus impacting the local economy). It will also impact pension funds especially for UK based funds - which depending on reporting may further decrease profits. The fall will also potentially increase if in the medium term the markets believe that divis will reduce further so its a bit of a vicious circle.

        So yes you are correct markets go up and down but a sustained and large fall such as the ones some sectors are experiencing will have a larger impact. To dismiss it as Shares go up and own all the time is missing the point on corporate finance.

    3. Anonymous Coward
      Anonymous Coward

      Re: *facepalm*

      They can now put the £6bn saved in EU fees into the NHS.

      What effing 6bn and even if there were there whom are they going to pay it?

      The German pediatrician which in time picked up my daughter's staph infection in the maternity ward? The German and Romanian surgeons and the Romanian anesthesiologist which delivered her? The Dutch pediatrician which was the only one to pick up in time and suspect she has a shallow hip?

      Alternatively, they can pay from that 6Bn to the Dutch allergologist which saved my life by correctly diagnosing an allergy I never thought I have or the Hungarian radiologist which did my most recent X-ray.

      In the 15 years in the UK I have seen a grand count of ONE English senior doctor - it was a dermatologist I got on BUPA who rubberstamped what the Eastern European doctor already prescribed to my son during our holiday before that and he admitted openly that he is 5+ years behind the times on what the "village doctor" prescribed him in Eastern Europe. And I effing payed for that. So even that was NOT on NHS. I have seen ZERO Englishmen on NHS.

      The ones on the NHS were ~20-30% Indian, the rest from Europe. Granted, I live next to a major teaching hospital, so the staff demographics there are slanted heavily towards higher qualification along with very high national diversity. Though I would not expect the rest of the UK to be that different. Maybe not a 30-68-2 Indian to European to Native ratio, but still more than 50% from the Eu.

      1. MrRimmerSIR!

        Re: *facepalm*

        And I'm sure they will continue to be gainfully employed by the NHS post-exit.

      2. Anonymous Coward
        Anonymous Coward

        Re: *facepalm*

        One could argue that all those nationals come here because it's better / more money / has a prospect of getting work, than doing their doctoring back in their original country? And since it's better, they'll likely do it for slightly less money than a UK national would have done.

        Or not, I have no data.

      3. Flocke Kroes Silver badge

        Re: *facepalm*

        If all the foreign doctors get shipped back where they came from then I am sure the Brexit government can find British homeopathists and alternative healers to spend money on.

    4. MrRimmerSIR!

      Re: *facepalm*

      Perhaps you could do with a bit of education yourself, into what the word "economy" means.

    5. Anonymous Coward
      Anonymous Coward

      Re: *facepalm*

      That's not how the stock market and economy work but hey ho.

      I think the simple maths for most Northerners was more people equals lower wages so really they voted for better wages. I'm sure a lot of non-eu nationalised people in the UK voted the same way.

      Full Disclosure: I was born and raised in Gorton. I'm a Manc. Cheadle is Stockport.

      1. anonymous boring coward Silver badge

        Re: *facepalm*

        "more people equals lower wages"

        If that's always true, I guess one person is the optimum number of people. Or perhaps zero?

        With the pound tanking they got an instant 10% (or so) salary reduction. Well done.

        1. chris 17 Silver badge

          Re: *facepalm*

          "With the pound tanking they got an instant 10% (or so) salary reduction. Well done."


          If your a uk company with uk turnover/earnings/profits how does a fall in the pound equate to salary reduction? The answer is it doesn't. £20k yesterday is still £20k today. It just doesn't buy the same amount of foreign currency it did.

          This was the problem with both campaigns, they publicised simple maths as project fear knowing people wouldn't understand what it meant.

          1. anonymous boring coward Silver badge

            Re: *facepalm*

            Well, if you buy products from abroad, you will now pay a higher price.

            It won't happen instantly, but a few months down the line you will find that almost everything is now more expensive. Looking at the massive trade deficit, it looks like Britain gets a lot of stuff from abroad.

            I suspect you want to live in a a fantasy world where the strength of the currency has no consequence, but it really does have consequence.

          2. Hans 1

            Re: *facepalm*

            >> "With the pound tanking they got an instant 10% (or so) salary reduction. Well done."

            > Wtf

            >If your a uk company with uk turnover/earnings/profits how does a fall in the pound equate to salary reduction? The answer is it doesn't. £20k yesterday is still £20k today. It just doesn't buy the same amount of foreign currency it did.

            It does, because, well, that bottle of Bordeaux wine was £20 last week, shortly, that bottle will be £24 or even £26, because, well, at £24 they will sell less (in quantity) and need to make up for that ... if you buy only British goods made in Britain without raw materials that need to be imported for the production of said goods, then, and ONLY THEN is £20 exactly £20 ...

            1. werdsmith Silver badge


              I just love the way the leave supporters (who voted for a change they don't understand - because nobody understands it) are getting into all this denial. Rome is burning, just listen to that string quartet!

    6. John Brown (no body) Silver badge

      Re: *facepalm*

      "Well now the leave voters have wiped £100bn off the economy. They can now put the £6bn saved in EU fees into the NHS."

      Most of the UK money paid into the EU came back as grants to "deprived" areas. How much confidence do any of us have that the UK government will spend that money in those areas now?.

  3. MJI Silver badge

    Goodbye frying pan

    Hello fire

  4. Anonymous Coward
    Anonymous Coward

    Fellow Cheadalian! Shall we down our sorrows with a bottle of White Lightning down Abney Hall?

    1. NotBob

      The best White Lightning only comes in a Mason jar, never a bottle. Might have to barter with a mountain man to get it.

      Y'all got some funny ideas...

      1. John Brown (no body) Silver badge

        From the reference to mountain men and Mason jars, is it safe to assume you are a colonial? If so, you may not know that in the UK, White Lightening was a cheap commercial brand of white "cider" that used to be something over 8% alcohol and so very popular with the under-age drinkers and homeless. It was reduced in strength a couple of times over the years before being abandoned as a brand 5 or 6 years ago.

        1. NotBob

          Indeed, a safe assumption. White Lightning almost always refers to moonshine over here.

  5. Pete4000uk


    do business outside the EU? But I got told there was no business outside the EU...

  6. YumDogfood


    Those words burned into my brain after reading too many ARM documents & datasheets. Seems somehow... relevant?

    I'm off for a nice cup of tea and a sit down to rest my brain from the headless chickens I've encountered today.

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