Britain's deepening political crisis over its exit from the European Union ...
LONDON - Britain's deepening political crisis over its exit from the European Union will weigh on London's blue-chip stocks indexwell into next year, as investors continue to steer clear of the region's assets, according to a Reuters poll.
Britain’s top stock index is expected to reach 7,300 points by the end of 2019, just 3% higher than current levels. It would represent an 8.5% gain for the year, partially reversing the more than 12% decline seen last year. “Until the fate of the UK/EU relationship is known we expect fundamentals to be ignored and global asset allocators to continue to shun UK risk assets,” Edward Park at Brooks Macdonald said.
The estimate for year-end levels would mean Britain lagged its European and U.S. peers, which are both heading for double-digit percentage gains this year.FTSE 100 index forecasts for the end of 2019 ranged from 6,200 to as high as 8,000 points, reflecting the lack of consensus about the direction of markets two months before the Oct. 31 Brexit deadline.
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