Market Commentary

Bracing for Brexit

Posted by Anton Murray Consulting on . Posted in Market Commentary


Brexit has brought to the table a whirlwind of uncertainty and tragi-comedic drama to historically one of the world’s most stable democracies and its fifth-largest economy (just about), with potentially negative consequences for the world’s largest trading bloc and, most of all, the UK. So it’s no surprise that equity investors have generally taken it badly, with the Stoxx Europe 600 shedding 12.89% last year and the FTSE 100 losing 12.5% – its biggest annual decline in 10 years. With less than two months to go to the Brexit deadline on March 29, there is still deadlock and little sign of a deal that will command a majority in the British parliament and be agreed to by the European Union.

The chances of a ‘no deal’ are growing. For investors looking on from the outside, the challenge is clear: should I invest in the UK or should I not? Should I take advantage of the weak pound and oversold markets to gain exposure to world-class assets and companies, or maybe wait for a firesale, or should I rein it in and try to steer clear?

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