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Issue 483, 5 June 2002

World cup fortunes

An 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.

The 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.

Dr Gerrard said: "Brokers, like everyone else, are football fans and their performance at work may be affected by any depression about England getting knocked out.

"But 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."

See more information in the full press release.

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