A group of Australian companies with more direct exposure to the UK and the turmoil of Britain’s departure from the European Union are getting hit hard for the second session in a row.
The market in general is firmer with the ASX 200 creeping higher after it lost 3.17%, its biggest one-day percentage fall since September, on Friday.
A short time ago, the ASX 200 was at 5,146.60, up 33.42 or 0.65%.
But there are a group of companies being sold down because of their more direct business interests in the UK.
The big loser is CYB, NAB’s spinoff of its UK bank Clydesdale, which has lost more than 10% today to be trading around $4.07.
QBE was down 7% to $10.19 after the insurance giant said it may have to revise its European business following the vote for a Brexit.
BT Investments was 5.7% weaker at $8.21.
The funds manager says its UK business, J O Hambro Capital Management, with £20.1 billion of funds under management, is well positioned to continue servicing its British and European clients.
Other companies affected include Macquarie Group which is down 4.9% to $67.71, share registry Computershare, down 3.8% to $9.50, and equity trading platform Iress, 2.4% lower at $10.59.