The referendum result in the U.K. has affected currencies and equity markets alike this morning – and Swiss financial experts are trying to make sense of what is happening. finews.ch has collected a few reactions in brief.
Swiss National Bank
The Swiss National Bank said it had intervened this morning to stabilize the currency market after the franc had appreciated due to Brexit. It added that it will remain active in the market.
UBS, Dominik Studer, CIO Office
«The exit of Great Britain could set in motion dangerous centrifugal forces within the EU – in particular if the exit discussions are being held in a core country of the eurozone. This could put under pressure on the still vulnerable banking system of the eurozone.»
Credit Suisse, Michael Strobaek, CIO
«Investors and pension funds will face even lower rates. Swiss real estate should profit. At equities, defensive values such as basic consumer goods and drug companies will probably be robust, banking titles however come under pressure.»
IG Bank, Andreas Ruhlmann, Analyst
«The EU probably won't make exit negotiations easy for the U.K. to discourage others wishing to do so. This means that insecurity and volatility will remain high in coming months.»
Aquila, Bruno Gisler, Chief Economist
«We expect the U.S. central bank to delay its rate decision until after the summer break in a bid not to endanger the fragile U.S. economy. The Swiss National Bank will hold back on further rate cuts for the time being.»
Neue Helvetische Bank
«In this situation, there will be opportunities to buy quality shares at advantageous prices. In particular, we don't see why a globally operating company should suffer from this decision in the long term.»
