early World Cup exit for England would knock 25 points
or more off the FTSE 100 according to historical evidence
analysed by Leeds' researchers. Their study shows
that the day after England exits a major international
championship, the stock market usually suffers a hangover,
with share prices falling.
business school's Dr Bill Gerrard and Robert Hudson
from the international institute of banking and financial
services measured the change in the stock market the
day after England exited a championship.
Gerrard said: "Brokers, like everyone else, are
football fans and their performance at work may be
affected by any depression about England getting knocked
the impact on share prices is also likely to reflect
some very real business effects. Major sporting tournaments
have a very positive economic impact on sectors such
as advertising, media, leisure, sportswear and alcohol
especially when the national team is involved. England
losing on the field can lead to loss of business off
the field. And the stock market will reflect this
in falling share prices."
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