Shares in West of England companies listed on the London Stock Exchange came under pressure this week as markets reacted to the election of Donald Trump as US President.
Many took their lead from the FTSE 100, which fell by 2% on opening as it followed stock market turbulence overnight on Wednesday across Asia as investors digested Mr Trump’s success. However, most shares recovered as Wall Street opened unruffled and the FTSE 100 closed up slightly on the day. 
In market conditions echoing those that followed June’s EU referendum result, many West shares traded lower in the first few hours after the market opened.
In a mixed and rapidly changing picture, Bath-based international media group Future was down by 2.44% before rebounding to close up 3.6% at 8.5p. Somerset-based luxury leather goods firm Mulberry was down throughout the day, closing 1.2% lower at £11.05.
But there were gainers too with utility group Pennon up by more than 3% at one stage, although it slipped back and closed 0.9% higher at 816.5p, and Chippenham-based specialist pharma firm Alliance – which had been among the sharpest fallers in early trading, down by 2.86% at one stage - recovered to 0.5% ahead as the pharmaceutical industry became one of the more buoyant sectors. It closed unchanged at 43.75p.
Drugs developer Vectura, also based in Chippenham, closed up 3%. South Gloucestershire-based advanced engineering group Renishaw, which makes highly specialised measuring probes used in factories across the globe, was also among the risers, up around 1.38% on the day.
Senior analyst at Bristol investment firm Hargreaves Lansdown, Laith Khalaf, said: “Initial stock market reaction to the Trump victory was a short intake of breath, followed by a shrug.
“The Japanese market was the biggest faller, shedding around 5% thanks to the appreciation of the yen, with European markets also opening a few percent lower this morning.
“However there has already been a bounce in stock indices, suggesting that even the most powerful office in the world holds only limited sway over global capital markets.
“The FTSE 100 was included in the early morning sell-off, but the reaction of the UK stock market was much more muted than in the immediate aftermath of the Brexit vote. The market opened 2% down, but staged a recovery.”
He said mining companies were winners on the Footsie, while pharmaceutical companies had also seen their share prices rise, as Clinton’s attacks on drug pricing were now no longer in the ring. Trading volumes in London during the day were double for a Wednesday, although nowhere near the levels in the day following the EU referendum result, when they were six times the daily average.
