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THE WEEK: A fortnight on from the Brexit vote one recurring theme of company updates is that very little impact has been felt yet, says Rodney Hobson

Rodney Hobson 8 July, 2016 | 1:42PM
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The great cry of angst over the referendum result has subsided and we investors must work on the basis that the vote will stand and Britain will leave the European Union with some sort of trade deal. A 4% margin for the out vote was just a little too large to overturn.

Of the two contenders to be the next prime minister, one is for coming out and the other is pragmatic enough to realise that the Conservatives can be reunited outside but not inside the EU. I have no doubt that the Brussels elite, who do very nicely on the gravy train, would be quite happy to make ordinary Europeans suffer in order to teach the UK a lesson but individual governments have their electorates to face so some deal will probably be forthcoming.

A fortnight on, one recurring theme of company updates is that very little impact has been felt yet, contrary to the impression one may have got that the world has just ended. While there are frequent references to uncertainty in the run-up to the vote, there is scarcely any evidence of it.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Persimmon PLC2,629.00 GBX0.73
Rentokil Initial PLC593.00 GBX-0.90
Robert Walters PLC840.00 GBX5.00
Vistry Group PLC1,167.00 GBX0.13

About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.