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Brexit: Companies respond to the Leave vote (updated)

UK-listed companies have rushed to reassure their shareholders
June 24, 2016

UK-listed companies have raced to respond to Britain's vote to leave the EU, reassuring investors that the decision would have minimal impact on their businesses. We will update this story throughout the day.

Update (4.30pm): In response to the Brexit vote, ITM Power (ITM) reduced the estimated value of its total pipeline by £3.47m - about 16 per cent - to reflect the greater risk of contracts falling through for items still being negotiated. The energy storage and clean fuel group's management added that its reliance on deals placed in foreign currencies, could mean greater currency volatility could affect its contract pipeline in the coming months. Nonetheless, it stood by its forecasts for the year to 30 April 2017.

Update (4.02pm): In a trading update, IG Group (IGG) highlighted the "extremely unusual" situation and significant market movements. The online financial trading group said it has "managed its operations and exposure very effectively through the night and into today", and its focus has been on supporting clients during a period of uncertainty. Management expects financial markets to remain unpredictable "for some time to come"; it plans to continue monitoring and managing its exposures and client positions.

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