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Queen's death mourned by the City

·Finance Reporter, Yahoo Finance UK
·2-min read
FILE - In this April 9, 2020 file photo an image of Britain's Queen Elizabeth II and quotes from her historic television broadcast commenting on the coronavirus pandemic are displayed on a big screen behind the Eros statue and a London underground train station entrance sign at Piccadilly Circus in London. Queen Elizabeth II, Britain’s longest-reigning monarch and a rock of stability across much of a turbulent century, has died. She was 96. Buckingham Palace made the announcement in a statement on Thursday Sept. 8, 2022. (AP Photo/Kirsty Wigglesworth, File)
City traders and investors are contemplating the Queen’s remarkable reign. Photo: Kirsty Wigglesworth/AP

Business groups and City investors are remembering Queen Elizabeth II's service over seven decades on the first day of national mourning.

The governor of the Bank of England, Andrew Bailey, said: “It was with profound sadness that I learned of the death of Her Majesty The Queen. On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family. For most of us, she is the only head of state we have ever known, and will be remembered as an inspirational figure for our country and the Commonwealth.”

The building at Threadneedle Street will fly a flag at half-mast as a mark of respect.

Tony Danker, CBI director general, spoke for the business world as he remembered the Queen’s leadership and values.

Read more: FTSE rises as King Charles III becomes monarch after death of the Queen

“Throughout her unprecedented 70 years on the throne, HRH Queen Elizabeth II served the nation with distinction as a stalwart example of British values of honour, dignity and resilience. She dedicated her life to the people of the UK and the Commonwealth, providing compassionate and inspirational leadership during the many challenging times of her long reign.

“Times are hard right now — made more so by the loss of our much-loved Queen — and our tribute should be to work tirelessly to build a better future for the people of this country in memory of Her Majesty.”

The London Stock Exchange (LSEG.L) has opened as usual but under Operation London Bridge — the plan for the coming days — the stock market would shut on the day of Queen Elizabeth II’s funeral.

Most companies are expected to continue operations as normal on Friday morning.

However, historic department store chain Selfridges said it would shut its doors on Friday as it led business tributes to the Queen. It said it intends to reopen stores on Saturday with their usual opening hours.

Liberty London also said it would not reopen its store in the West End of London until Saturday morning.

Current bank notes featuring a portrait of the Queen will continue to be legal tender, the Bank of England has reassured consumers.

A further announcement regarding notes will be made once the period of mourning has been observed following the Queen’s death. The Queen was the first monarch to feature on Bank of England banknotes.

Watch: Remembering the late HM Queen Elizabeth II