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J.P.Morgan - Analyzing the post Brexit landscape

Now that the dust has settled after the Brexit results it is time to discuss how might it affect the economic growth in the UK and if it will deflect the global recovery. As we enter the 2016 Q1 earnings season the Brexit impact can be a little more tangible.

Considering Brexit: Strategists and portfolio managers weigh the economic and investment implications

The UK’s June 23 Referendum to leave the European Union certainly startled markets and sparked a sharp decline in global risk assets, but it did not set off a systemic shock. Yet even as markets absorbed the short-term impact, investors confronted a wide range of questions about the longer-range economic, geopolitical and investment impact of the Brexit vote.


Click here to see more articles from J.P.Morgan on their website



European Q1 2016 earnings season: Assessing the post-Brexit landscape

• With 410 companies in the Euro Stoxx 600 now having reported, we estimate that European earnings per share (EPS) for the first quarter of 2016 declined by 16.0% year on year (y/y). But this headline number is badly distorted by the sharp falls in just

two sectors—energy and financials (Exhibit 1).


• Excluding energy, Stoxx 600 EPS actually fell by 10.5% (y/y), and EPS growth for eurozone companies remains in positive territory, with EPS growth of 1.4% (y/y) in thefirst quarter of 2016.


Click here to see more articles from J.P.Morgan on their website



July 2016

Please note that these are the views of the authors for J.P.Morgan and should not be interpreted as the views of RL360°.

Authors

Considering Brexit

John Bilton, Stephanie Flanders, Nicholas J. Gartside and Stephen Macklow-Smith



European Q1 2016 earnings season

Alex Dryden



Please note that these are the views of the authors for J.P.Morgan and should not be interpreted as the views of RL360°.

360° fund links

A range of J.P.Morgan funds can be accessed through our guided architecture products LifePlan, Oracle, Paragon, Protected Lifestyle, Protected Lifestyle Lebanon and Quantum, and also through our PIMS portfolio bond.