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London Stock Exchange to close for Queen’s funeral


MongiIG

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A bank holiday on Monday 19 September means the UK’s stock exchange will close for the day.

London Stock ExchangeSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 13 September 2022 

News of the death of Her Majesty Queen Elizabeth II last week prompted investors to ask what the steps will be for UK markets.

London Stock Exchange expected to close

While trading continued as normal on the day of the passing of the monarch, it is expected that the London Stock Exchange will close, as is normal for a UK bank holiday.

This means there will be no cash market for the FTSE indices on those days, and so shorter trading hours for these markets may apply on the IG platform.

Bank of England meeting delayed

The Bank of England (BoE) has taken the decision to postpone its next monetary policy decision, originally expected to be held on 15 September.

The meeting has been moved back a week, so that it falls outside the period of official mourning announced last week upon the death of Her Majesty. The BoE added that usual bank holiday procedures would apply for the CHAPS and other payment systems.

Other markets remain open

The usual rules for bank holidays in the UK apply for other markets, such as FX, commodities and cryptocurrencies. These are expected to trade as normal throughout the day.

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