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Brexit – the stocks most affected by the referendum

Britain has taken the historic decision to leave the European Union - a move that has rocked global equity markets.

The FTSE opened significantly lower on Friday, although there was evidence of some stabilisation by mid-morning.

Here’s a quick rundown of the key stocks affected and why:



Two main sectors were anticipated to fall after a Leave vote – banks and property. Both are heavily exposed because of a strong correlation of their earnings with UK domestic demand growth over recent years.

Taylor Wimpey – the homebuilder was among those pegged as a potential loser from a Brexit vote and its stock dropped precipitously on Friday, sliding around 25%.

Persimmon – Another housebuilder, shares in Persimmon also fell by approximately a quarter in the first few hours of trading.

Barratt Developments – Yet another property developer – share price off more than 20% during the morning session on Friday.

Berkeley Group – Completing the property sector woes for FTSE firms, the group’s stock dropped by a fifth after the vote.

Lloyds Banking Group – The mortgage provider led banking shares lower on Friday, sliding over 20%.

Barclays – Analysts at Bernstein predicted Brexit would hit Barclays the hardest, estimating a 40% drop in 18 months. It managed to get half way there in a matter of minutes.

RBS – Another heavily exposed to the UK economy, the once-mighty lender dropped 18% after the vote.


Not so many winners, but a few, particularly silver and gold miners as investors rushed to safe havens.

Randgold Resources – The gold giant profited from a big spike in the yellow metal, gaining over 17% by lunch time.

Fresnillo – Silver producer was the next strongest riser on the FTSE 100, climbing 11%.

GlaxoSmithKline – Pharmaceuticals giant GSK posted a 1% gain in morning trading.

AstraZeneca – Another drug company to do solidly as investors went for defensive stocks – its share price was up 1%.


Added market volatility means increased opportunity but also more risk. To reflect this, ETX Capital may be increasing margin rates on certain markets.


Any information, analysis, opinion, commentary or research-based material on this page is for information purposes only and is not, in any circumstances, intended to be an offer of, or solicitation for, a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any person acting on it does so entirely at their own risk and ETX Capital accepts no responsibility for any adverse trading decisions. You should seek independent advice if you do not understand the associated risks.


By: Neil Wilson



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