Brewin Dolphin's Foster: Don't believe hype around Brexit vote impact

One of many issues affecting stockmarket

Guy Foster, head of research at Brewin Dolphin, has argued the impact of June's referendum on Britain's membership of the EU has not been as negative for the UK market as many commentators have suggested.

In Foster's view, Brexit is one of many issues affecting the stockmarket, and its impact is likely to be immaterial compared to other macro events, such as the slowdown in China, falls in mining stocks, deflation in Europe and Japan, and the lack of further rate rises in the US. He said: "While we continue to believe the referendum will be a pivotal point for the UK economy, we suspect other factors will trump that for the UK market." EMs/Greece/Brexit: Wealth managers reveal their big debating points for Q2 He points out the impact so far on government bonds has been positive, con...