Challenger bank shares hit again

Ryan Fowler

July 6, 2016

stock market

Shares in challenger banks are tumbling once again as the fallout of the EU referendum continues to spook investors. 

As of 12:11 shares in Aldermore are down 5.66%, Metro Bank is down 5.53% and Shawbrook is down 5.78.

All the banks are listed on the FTSE 250 index which has now fallen by 1.1% today, or 177 points to 15,557, as investors continue to exit British firms.

Protect and survive

The FTSE 250 index has now lost more than 10% of its value since the vote on June 23.

And just yesterday Bank of England governor Mark Carney pointed to the FTSE 250 as a good gauge of market sentiment towards the UK. As such the slump in valuations is a concern.

The index dipped by 13% in the two days after the vote, before bounding back. So far this week the index has been in a state of steady decline as Brexit gloom has deepened.

 

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