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Brexit: Are UK stocks really that hot?

Brexit: Are UK stocks really that hot?

New KPMG indices reveal underlying sentiment towards UK economy.

Yael Selfin - Chief Economist at KPMG in the UK.

Chief Economist

KPMG in the UK


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Yael Selfin, KPMG’s Head of Macroeconomics, discusses how the creation of two new KPMG stock indices will help gauge investors’ appetite for UK exposure.

Defying the pre-vote predictions, the major UK stocks indices have surged since the EU referendum. Yet few attribute its performance to a groundswell of optimism about the broader UK economy.

Yael Selfin explains that while the performance of the FTSE 100 (and to a lesser extent the FTSE 250) is good news for investors and savers, it is little use as a barometer of sentiment towards the UK economy. Therefore, to gauge investor’s appetite for UK exposure, KPMG has developed two stock indices that strip away the international effect.



  • New KPMG UK50 index filters out currency impact to reveal investor sentiment about UK economy
  • Both domestic and globally geared companies have underperformed global benchmark since vote
  • £40 billion wiped off value of KPMG UK50 since referendum.

Anne-Marie Spalding contributed to the production of this report.

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