Hopefully things will calm sooner rather than later.
It’s positive that the UK now has a new prime minister. Markets abhor a vacuum, and that particular one is now fixed. Businesses need to keep investing for the long term, and consumers need to keep spending within their means.
The UK remains a member of the EU for the time being, and companies continue to benefit from being able to trade within a free market. Workers and consumers continue to be afforded the same protections as before the vote. The most important thing that we can all do right now is to try to look through the noise.
This article originally appeared in the Financial Times on July 14, 2016.
Martin Gilbert is CEO of Aberdeen Asset Management.