London, June 1 (ANI): The London stock market is likely to reflect the nation's pain if England's footballers are defeated in the World Cup, a study claims.
Research examining the link between the FTSE 100 index and England results show, on average, how on the following day the index falls after a defeat, also drops after a draw and rises if the team wins.
According to The Telegraph, the study carried out by academics from the Universities of Bangor, Leeds and Newcastle examined whether, on average, returns from the FTSE 100 index changed significantly the day after 290 England international football games between 1984 and 2009.
It was found the largest gains and falls in the stock market happened after tournament games such as the World Cup.
Slightly lower share price gains and losses were noticed after friendly and qualifying matches.
The effect of international sporting results on stock markets was well documented and often attributed to the psychological effects of the result, said researchers.
Professor Robert Hudson, from Newcastle University Business School, said: "Stockbrokers, like everyone else, can be carried away in the depression associated with an England loss at the World Cup." (ANI)