Investec's Brazier: 'Little room for manoeuvre' after historic vote

Manager intends to add to oversold positions

Investec UK Alpha manager Simon Brazier believes a UK recession is now a 'significant reality' as a result of the UK's decision to leave the European Union.

Brazier (pictured) said the decision this morning had left the UK with "little room for manoeuvre" with a variety of factors contributing to a recession. He said: "From a simple UK perspective, a UK recession is now a significant reality. There is limited support for GDP from here. Business investment which was -0.4% in the last quarter will remain negative. "Household consumption that is the largest component of GDP will reduce. The consumer hates uncertainty and the inherent risks to unemployment, house prices and the fact that the savings ratio is already back to the lows of 2008 m...