Jump to content
AskTraders Trading Community
  • 0

What does Patrik Schowitz think about the UK markets during Brexit phase?


Nick Robinson

Question

1 answer to this question

Recommended Posts

  • 0

The UK equity market seems to be benefitting from all the chaos that Brexit has caused. While the other markets are being negatively affected by the uncertainty, the equity market seems to be shrugging off all the negative estimates for corporate earnings growth.

Patrik Schowitz, the global multi-asset strategist at JPMorgan Asset Management, said that “It’s the one market in the world where forecasts are going up.” JPMorgan Asset Management seems to view the UK equity markets very positively. The improved forecasts are mostly the result of the falling exchange rate of the British pound. This is because the vast majority of revenues for companies in the FTSE 100 (UK’s index similar to the US' S&P 500) are made outside of the UK. The British pound lost 1.7% of its value against the US dollar since the start of 2019.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. To reply to this question, sign in or create a new account.

Guest
Reply to this question

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...