European rather than UK stocks would suffer more in a no-deal Brexit, fund manager says

div > div.group > p:first-child"> Speaking to CNBC's"Squawk Box Europe," Ralph Jainz, a fund manager at Centricus Asset Management, said a negative Brexit outcome had"for sure" been underpriced by investors.

"If there was a no-deal scenario, European equities would probably suffer more than the U.K. indices," Jainz added. A no-deal Brexit is where the U.K. leaves the EU without a trade deal, or even a transition phase, in place and has to rely on WTO trading rules. It's widely expected to cause massive disruption for businesses, citizens and investors.

"Anything that is exposed to domestic demand in the U.K. has really been suffering," he said."Now it really signals stock opportunities — areas like support services, where there's some real bombed out value, a really good hunting ground. The U.K. today probably offers more stock-picking opportunities than any other country."

"We are not paying too much attention to what's going on with Brexit, because there is so much uncertainty going on anyway at a global level that it's actually difficult to isolate Brexit from anything else," he said.

Pretty damn obvious! Brexit argument gets lost in real problem. Mass over government, EU money pit with 40000 plus bureaucrats adding to excess in Westminster. Why do we need them to excess?

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