How Companies Could Turn Brexit into Profit for Shareholders

Trust in the spirit of capitalism, says Cazenove's Richard Jeffrey - and prepare for UK plc to thrive in the wake of Brexit

Emma Wall 18 August, 2016 | 9:29AM
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In the weeks following the shock Brexit vote two FTSE 100 companies announced their intentions for the future – a future in which the UK was not a part of the European Union. These two companies; large and established enough to be considered a bellwether for their respective sectors and indeed UK plc, took rather different tacks.

Lloyds (LLOY) announced 3,000 job cuts, closing 200 branches and warned that Brexit would hamper its ability to generate capital in the future.

Chief executive Antonio Horta-Osorio explained: “Following the EU referendum the outlook for the UK economy is uncertain and, while the precise impact is dependent upon a number of factors including EU negotiations and political and economic events, a deceleration of growth seems likely.”

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
GlaxoSmithKline PLC1,423.40 GBP0.00Rating
Lloyds Banking Group PLC46.43 GBP0.00Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar

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