North America

London no longer the “standalone basket-case” after Trump victory

London is not the “standalone basket-case with crazy populist rhetoric”, said Cushman & Wakefield’s Elisabeth Troni in response to Donald Trump’s US presidential election victory.

Global markets were rocked this morning by the political outsider’s shock win at the polls. The FTSE 100 opened 2% down, Japan’s stock market index plunged 919 points and the dollar fell 3% against the yen.

Troni, head of EMEA research at C&W, said that the economic uncertainty in the US might prompt investors to re-evaluate real estate prospects in the UK’s capital.

“It’s like we’re in the same bucket as the US and the focus on London might be reduced,” she said. “It might give them time to think that actually from a longer-term perspective it’s still a market they’re committed to.”

But the president-elect quickly made swift moves to calm the markets. Trump’s victory speech was conciliatory in tone and in stark contrast to the divisive messages that were prominent throughout his campaign.

Troni said it indicated the potential for a Trump presidency that would be notably more moderate than Trump’s candidacy.

“The real world impact of Trump will probably be a lot smaller than it seems and he’ll probably look a lot closer to Hillary than…

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