European stock markets sharply lower, the note of … – Le Monde

concern about the referendum on leaving the UK in the European Union continued to be felt on European markets on Monday June 27, while the rating of British sovereign debt was lowered by two notches by Standard & amp; Poor’s.

The brief respite observed in Asia and openness in Europe is quickly dissipated in the day. European shares have been constantly sinking throughout the day and Wall Street has followed suit, albeit with less dramatic losses Friday.

The major European markets closed sharply lower, falling 2.55% London, Paris 2.97%, Frankfurt and Milan 3.02% to 3.94%. In New York as Wall Street ended down 1.49%, while the Nadsaq lost 2.41%. Only Asia has managed to hold its own game, Tokyo took 2.39% with hopes of intervention by financial authorities in the foreign exchange market.

Black Monday for British banks

the securities exposed the UK have suffered a lot, like Eurotunnel which plunged 17% in Paris. And British banks have experienced Black Monday, crushed by uncertainty about the fate of the City and their access to the large European market: Barclays fell by 17.35%, 15.10% of RBS, Lloyds 10.26 %.

on the foreign exchange market, the pound remained under pressure, even reaching a new low since 1985 to 1.3152 dollar for a book.

Standard & amp; Poor’s and Ficth lower their notes

Standard & amp rating agencies; Poor’s and Fitch announced Monday the degradation of their rating of AAA to AA country for the first and AA + to AA for the second, in both cases with a negative outlook, that is to say, it could be lowered again

According to S & amp;. P, the voting results on the Brexit weaken the stability and efficiency of economic policy in the UK. This decision “also refers to the risk of deterioration in market access conditions” Financial UK, says the agency, and “constitutional issues” that will arise, while the pro-European Scotland plans to hold a referendum on independence.

Friday Moody’s, another rating agency, had she, lowered its outlook on UK debt increased to “negative” , a prelude there as a downgrading.

the notes issued by the rating agencies, types of credit certificates, dictate the conditions under which companies or the occurrence countries can borrow on the financial markets. The higher the score, the lower the interest rates demanded by creditors will be high

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