Millions of pounds were wiped off the value of Bath area firms quoted on the London Stock Exchange today as they became caught up in the Brexit share price collapse.
Rotork, Bath's largest manufacturer, suffered a 4.4% drop in its share price this morning. The firm, which makes specialist valves for the global oil and gas sector, had already been suffering from the slump in the oil price.
Shares in Avon Rubber, which has its global HQ in Melksham, fell by nearly 3%. The international group makes gas masks and respirators for the military and emergency services and rubber products for the global dairy industry.
Experts believe the pharmaceutical sector will be hard hit by the UK's withdrawal from the EU. Chippenham-based Alliance Pharma's shares edged down by 1.1% while Vectura, also based in Chippenham, was hit by a 3.5% fall in its share price.
Tech companies have also been hit. Shares in Chippenham-headquartered SciSys, which has its roots in the European Space Agency, were down by more than 6% at lunchtime as equities across the board continue to hit by the outcome of the referendum.
Actual Experience, the Bath digital pioneer, saw its shares go down by 1.8%
Financial services businesses suffered more than most as investors took flight from a sector that could be hard hit by quitting the EU. Even shares in 1pm, the fast-growing Bath-based specialist lender, were 2.3% lower at lunchtime.
Shares in luxury brand Mulberry, which makes many of its iconic upmarket bags at its Chilcompton factory, declined by more than 6%.
However, one Bath-based firm was among the few on the entire London Stock Exchange to buck the trend. Shares in media group Future inched up by just under 1% as investors warmed to its £14.2m takeover yesterday of magazine publisher Imagine.
