General Election 2017 update

It’s been a long and interesting night; with plenty more twists and turns to come.

Our intention, if the election result had shown a clear winner, was to explain what the result meant for your personal finances. However, at the time of writing, that just isn’t possible.

As today unfolds, the shape of the future government may become clearer. It could of course, as it did in 2010, take a few days for a clearer picture to emerge.

However, we can expect further falls in the value of sterling, and, perhaps, some volatility on the UK stock markets.
At times like this, when markets might make you nervous, it’s vital we all remember the fundamentals of investing:

  • Short-term fluctuations are usually just that, and should largely be ignored
  • Investors should avoid making knee-jerk reactions to any stock market falls we might see over the next few days
  • Any falls we do see are likely to be recouped relatively quickly. Take the days, weeks and months after the EU Referendum. On 24th June, the day after Brexit, the FTSE 100 closed 3.15% lower at 6,138, yesterday, the index closed significantly higher at 7,449. The lesson? Given time, markets will recover

Remember too, that if you are nervous about the effect of the election result on your personal finances or any falls in the value of the stock market today, feel free to get in touch; we are here to help.