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80%
S&P downgraded
the UK’s sovereign
credit rating from
AAA – the last to
do so. But with
the ability to print
money, is this risk
just theoretical?
...rise in the number
of foreign tourists
in July. London has
become the most
affordable global
market for luxury
goods according to
a recent study, Will
this keep pressure
on retail rents?
FTSE 100 up since
the 23rd June and in
that time managed
to reach its highest
level ever at 7117.
Investment Activity
Economic Activity
United Kingdom, Equity Indices,
Index, Price Return, Close, GBO
...of MPs in today’s
cabinet voted to
remain in the EU,
as well as 75% of
all MPs overall. Will
MPs respect the
referendum result
following the High
Court ruling?
Probability of
remaining in the EU
implied by Ladbrokes
at 10pm on the eve of
the vote. How many
people would have laid
a bet at a point where
Nigel Farage appeared
to have given up?
st
xit
ain
Base rate cut from
0.5% to 0.25% - the
first movement in 7
years. With inflation
now rising, can this
rate continue to
be held?
92%
0.25%
AA
18%
6%
100%
75%
50%
25%
0%
London
Jul
Nov
Oct
Sep
Aug
Jul
Nov
Oct
Sep
Aug
Rest UK
Completed Progressing Not proceeding
4
3
2
1
0
-1
-2
-3
-4
-5
2006
2008
2010
2012
2014
2016 F
2018 F
2020 F
9
8
7
6
5
4
3
2
1
0
GDP growth, annual % (LHS)
Unemployment rate, ILO % (RHS)
110
105
100
95
90
85
80
75
Jun
Referendum
FTSE 100 & 250 now
above referendum day
Jul
Aug
Sep
FTSE 100 (rebased 23/06/2016)
FTSE 250 (rebased 23/06/2016)
FTSE EPRA/NAREIT (rebased 23/06/2016)
Brexit has principally caused delay rather than impacted
on pricing.
(Source: Cushman & Wakefield)
No recession on the horizon, as some had predicted.
FTSE overperforms due to redenomination of dollar
revenues.
(Source: Macrobond)
CUSHMAN & WAKEFIELD
25
LONDON IN FIGURES