STOCKS FEEL BREXIT EFFECT

The British pound, which hit a 30-year low on Friday after the Brexit vote the day before, continued to take hits Monday in trading in Asia and Europe.

The news that England would be leaving the European Union affected multiple entertainment companies. Sony Corp. opened at $27.15 on the New York Stock Exchange today, having dropped to $27.60 from $29 on Friday. The company’s high for the year was $29.18 three weeks ago.

Universal Music Group owner Vivendi, which took a $1.43 hit on Friday, was down 1.5% to $16.87 on Monday. Its 2016 peak for the year was $22.10 on Jan. 27.

Walt Disney Co. was hit hard on Friday, dropping more than $3 a share to $95.90 from $99.02. The stock’s peak this year was $106.60 in May, though it was up to $120.07 just before Thanksgiving.

Live Nation held steady through the day, closing at $23.15. The concert promoter’s best day this year was 6/7 when it hit $24.73.

Apple had a curious result. The tech giant tumbled to $93.40 after closing at $96.10 the day before, but its supplier ARM shot up 6.5% to $10.85 Friday as investors speculated the weakening of the pound will aid the chip company’s profit growth.

The pound, which was about a buck and half on Thursday, was down to $1.32 this morning when the NYSE opening bell rang.