JPMorgan turns bullish on UK stocks for the first time since the Brexit vote

(CNBC) JPMorgan has upgraded U.K. stocks to “overweight,” ending years of caution on British equity markets which the bank said are now trading at a “record discount.” The Wall Street giant had held a longstanding cautious call on U.K. equities since the Brexit referendum in 2016, before moving to “neutral” in July 2020 after a particularly dire spell for U.K. stocks and after the worst of the coronavirus pandemic.

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