UK shares extend losing streak to two days after Brexit speech

UK shares

UK shares has now stretched its losing streak into two trading sessions as it slipped on Tuesday after Prime Minister Theresa May gave her remarks regarding the Brexit process.

It seems that a run of losses will follow the previous run of wins.

Worst Loss

The FTSE 100 futures gave up 1.5% on a highly volatile Tuesday trading to finish at 7220.38, marking its worst setback and biggest single-day percentage loss since June 27, few days after the country decided to leave the continental bloc.

The Tuesday slide followed the sorry loss scored by the benchmark on Monday where it saw its 12-straight record high closes came to an end, after it shed 11 points, or 0.15% at 7327 points, brought up by the dismal performance form the bank and oil companies.

UK shares have been afloat in several months, prompted by the persistent fall in pound, but the currency jumped sharply yesterday by near 3%, closing at 1teh 1.23 level against the US dollar and 1.15 versus the euro, which gave equity markets some wounds.

The prime minister highlighted that Great Britain aims to have an essentially clean break up with the European Union and pledged that British parliament would cast votes on any Brexit deal.

Among the losers in the benchmark were British American Tobacco, giving up 3.8%, as the multinational company carried the burden brought up by the stronger pound and the Royal Bank of Scotland, which shed 0.50%.

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