“If Brexit uncertainties weigh on economic activity and consumer sentiment, the domestically-exposed general retail sector and leisure would likely suffer,” Simmons added. “While some initial relief may be prompted by potential further rate stimulus by the Bank of England post-Brexit, the weaker economic backdrop is likely to play a larger role.”
Insurance, real estate and utilities could also face downwards pressure due to their activities being so heavily exposed to the UK economy, Simmons noted.
On the other side of things she said companies most exposed to the United States will be the least impacted in case of Brexit. US-exposed equities will benefit from stronger USD sales, and avoid concerns about a UK or European economic slowdown, she explained.
Simmons added that energy, materials, beverages, and tobacco will benefit the most from a weaker pound and reduced exposure to the weakening UK economy.
