European stocks could fall 15 % in next few days-Exane

By: | Published: June 24, 2016 1:09 PM

French investment bank Exane BNP Paribas forecast a fall of up to 15 percent on European stocks in the coming days following Britain's shock voting result to leave the European Union.

european stocks“Given the recent ‘Remain’-leaning polls and subsequent risk rally, the UK’s vote to leave is a nasty shock for markets this morning,” Exane’s strategists wrote in a note. (Reuters)

French investment bank Exane BNP Paribas forecast a fall of up to 15 percent on European stocks in the coming days following Britain’s shock voting result to leave the European Union.

“Given the recent ‘Remain’-leaning polls and subsequent risk rally, the UK’s vote to leave is a nasty shock for markets this morning,” Exane’s strategists wrote in a note.
“We see potential for 10-15 percent downside to European equities over the next few days as a higher risk premium drives multiple compression. We would discourage selling should markets fall materially beyond this,” they added.

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