Millions of pounds were again wiped off the value of Swindon and Wiltshire firms quoted on the London Stock Exchange today as the market turmoil triggered by Friday’s Brexit result continued into this week.
Having suffered heavily on Friday, listed firms’ hopes of a more sober day today were dashed as soon as the market opened, with screens again turning red as nervous investors sold up.
Manufacturers were hard hit on Friday with 
shares in Avon Rubber, which has its global HQ in Melksham, down by nearly 3%. The international group, which makes gas masks and respirators for the military and emergency services and rubber products for the global dairy industry, was one of the few bright spots today, though. Its shares regained 1.3%.
As expected, the motor industry also came in for a buffetting on Friday on fears of tariffs on UK-built cars and an expected slump in consumer spending. Shares in Cambria, the fast-growing Swindon-based dealership group, went by more than 10% on Friday and today were down a further 8.8%.
Experts believe the pharmaceutical sector will be hard hit by the UK's withdrawal from the EU. Chippenham-based Alliance Pharma’s shares were worse hit today than Friday – falling by 9.3% – while Vectura, also based in Chippenham, was hit by a 3.5% fall in its share price on Friday and another 5% today.
Tech companies have also been badly bruised. Shares in Chippenham-headquartered SciSys, which has its roots in the European Space Agency, were down by more than 6% on Friday but levelled off today.
Swindon-based content engineering group Stilo International also came under pressure with its shares 2.13% lower on Friday. They were unchanged today as investors looked to other sectors, including airlines and housebuilding.
The energy sector did not escape either and despite its green credentials, Chippenham-based sustainable energy firm Good Energy suffered a fall in its share price of nearly 2% on Friday but was unchanged today.
Financial services businesses suffered more than most as investors took flight from a sector that could be hard hit by quitting the EU. Shares in St James’s Place, the Cirencester-based investment firm, tumbled by more than 15% on Friday and were again in trouble today – down 8.65%.
