Brexit Pushes FTSE 100 To Near All Time High

THE WEEK: Morningstar columnist Rodney Hobson says shares have provided an excellent hedge against the falling pound for anyone who earns and saves in pounds

Rodney Hobson 7 October, 2016 | 11:36AM

Those who, like me, were hoping that the Conservative Party conference this week would give some genuine clues to government policy on anything financial, let alone Brexit, were disappointed. There were a few broad brush strokes but no detail. 

We were told that Brexit would happen in March 2019, which we were already assuming anyway. Prime Minister Theresa May will need to invoke article 50 to start the break with the European Union early next year or charges that she is prevaricating will start to stick.

It is possible that Parliament will attempt to block the process but that will only delay, not derail Brexit. May will simply call a general election and win handsomely on a manifesto with Brexit written large at the top. She will pick up two million votes that went to UKIP last time while the opposition vote will be badly split.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BAE Systems PLC442.30 GBX-4.86
Dunelm Group PLC1,481.00 GBX0.07

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.

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