Some see a case for why the pound can shed its status as a reliable laggard among G-10 peers since the 2016 referendum -- and for the British stock market to no longer be one of the most hated in the developed world. UBS Global Wealth Management, for one, touted the country this month as its most-preferred stock region. Yet huge challenges remain, from the country’s economic trajectory to its trade relations with the rest of the world.
LONDON: The historic Brexit trade accord may have sparked a relief rally, but investors are pouring cold water on the notion that it’s the beginning of a bullish era for U.K. markets.
The limitations of an accord that excludes services, the worsening pandemic and the fact good news is already priced into markets are big headwinds. For many, the best thing about the deal is that is the simple fact that it’s here at last.
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