MOVE OVER BREXIT. If England drop out of the Euro 2016 it could wipe £6 billion (7.6 billion euros) from the value of the London stock market, a finance expert warned Wednesday.
“My research shows that a loss in a major football competition can have a profoundly negative effect on investor mood,” said, Alex Edmans of London Business School of the study on the link between 1,100 international football matches and stock returns in 39 countries.
Share prices are affected not only by fundamentals, but also by emotions,” added the co-author of “Sports Sentiment and Stock Returns.”
England drew their first European Championship match against Russia and defeat to Wales on Thursday would leave them facing elimination.
The research team found that a country’s market typically falls by 0.3 percent on the day after its soccer team goes out of a major tournament, such as the Euros.
This would equate to £6 billion in the case of the FTSE-100.
To add insult to injury, the market losses are usually bigger when a country is eliminated during the knock-out stages but there is no bounce in the event of a tournament win.
“It is hard to imagine other regular events that produce such substantial and correlated mood swings in a large proportion of a country’s population,” the report said.
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Who cares? Nobody wants them in the tournament anyway
That’s totally incorrect
Sean I see you support man united,how can to cheer for the likes of Rooney etc while wearing a United jersey and the jeer and bitch about the same players while they play for their country?
You seem to comment negatively on the English at any opportunity. You appear to be conflicted as you have put the icon of English culture at the heart of the Irish flag. I think that says more than your words ever would
Just looked at who you follow on Twitter and the amount of English people you follow is laughable for someone who hates the English so much one that stands out is “crimes of Britain” maybe you’re in the closet about liking England are you?
Muppet
Never said I don’t like Britain. The competition would just be better off without them. Their fans are lunatics and they always underperform.
Britain? What have you got against the Welsh and Scottish? The Scots aren’t even there!
Absolutely nothing agsinst them. Alan B mentioned britain so i replied using britain. Its english i shouldve said
The enjoyment I would get if Bwales beat them tomorrow :)
If you feel that way why do you have a picture of scholes in your avi with words saying he’s the best player in England?
Why, why oh why do I click on these ship kind of articles half knowing it will be some load of ballsocks like this.
I did that to annoy a Liverpool fan
I changed it but for some reason it’s still coming up here. Check my account if ye don’t believe me