{"id":140236,"date":"2019-01-16T15:58:24","date_gmt":"2019-01-16T20:58:24","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140236"},"modified":"2019-01-16T15:58:24","modified_gmt":"2019-01-16T20:58:24","slug":"uk-pms-latest-win-to-boost-the-pound-ftse-and-uk-financial-assets","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/uk-pms-latest-win-to-boost-the-pound-ftse-and-uk-financial-assets\/","title":{"rendered":"UK PM\u2019s latest win to boost the pound, FTSE and UK financial assets"},"content":{"rendered":"
January 16, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Theresa May\u2019s win in the Vote of No Confidence signals “more opportunities than\u00a0risk\u00a0for sterling and UK assets” from\u00a0here,\u00a0affirms the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The bold assertion from Nigel Green, founder and chief executive of deVere Group, comes after the UK Prime Minister clung on to power in a confidence vote on Wednesday evening,\u00a0a day\u00a0after her\u00a0Brexit\u00a0deal was crushed in the worst ever defeat for a sitting government on Tuesday.<\/p>\n

Mrs May won 325 to 306 votes.<\/p>\n

Nigel Green notes: \u201cThis win for Mrs May – which follows her previous confidence vote win in December \u2013 will eliminate, for the time being, the risk of a general election being called. \u00a0It\u00a0therefore removes the risk of an incoming Labour government.<\/p>\n

\u201cThe likely consequence of May\u2019s Brexit bill defeat is to reduce the risk of a no deal\u00a0Brexit,\u00a0since Parliament will now have greater involvement in the Brexit process. This is good news for sterling and UK financial assets.<\/p>

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\u201cNow we have the news that an election is unlikely to be called in the near future, while new Brexit options are being explored. This too will please financial markets.\u201d<\/p>\n

He continues:\u00a0\u201cThe pound, the FTSE and UK financial assets can be expected to rally in the short-term at least.<\/p>\n

\u201cIndeed, based on these latest developments, most scenarios favour sterling and UK stocks as they are currently undervalued.<\/p>\n

\u201cI believe there to be more opportunities than\u00a0risk\u00a0for sterling and UK assets from here.\u201d<\/p>\n

Mr Green goes on to say: \u201cBut there is a long way to go in recovery to reach pre-Brexit levels \u2013 and with so many question marks still surrounding the UK\u2019s divorce from the EU, it is likely to be a bumpy ride.\u201d<\/p>\n

The deVere CEO concludes: \u201cThose investors who maintain a properly diversified, multi-asset portfolio will be best-placed to take advantage of the key opportunities and mitigate the potential risks.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Theresa May\u2019s win in the Vote of No Confidence signals “more opportunities than\u00a0risk\u00a0for sterling and UK assets” from\u00a0here,\u00a0affirms the CEO of one of the world\u2019s largest independent financial advisory organizations. The bold assertion from Nigel Green, founder and chief executive of deVere Group, comes after the UK Prime Minister clung on to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-140236","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=140236"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140236\/revisions"}],"predecessor-version":[{"id":140237,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140236\/revisions\/140237"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}