Friday 18 August 2017

Irish investors flee UK stocks

Traders work on the floor of the New York Stock Exchange (NYSE)
Traders work on the floor of the New York Stock Exchange (NYSE)

Sean Duffy

Irish investors have been fleeing from UK-listed shares in the past year, with the rate of Irish household investment in the UK falling by 30pc over the past year.

Irish household investment in the UK fell by €500m over the past 12 months, according a report published yesterday by the Central Bank.

The Irish appear unconvinced by UK stocks' long-term prospects.

This is despite the robust performance of the FTSE 100 since Britain's decision to leave the EU.

London's benchmark index has risen by around 21pc over the past 12 months.

The total Irish investment in UK stocks and bonds now stands at around €1.2bn, making it the third most popular country for Irish investors after Ireland and the UK.

Irish households have a total of €2.8bn invested in listed shares, with 43pc of investments being placed in Irish companies.

Overall, Irish households own around €8.9bn in stocks and bonds - the value of which has risen by €700m over the past two years, according to the report.

The Central Bank said the value of the stocks and bonds had risen by between €1bn and €1.6bn in absolute terms since 2014. US stocks are the second most popular among Irish investors, with €1.3bn worth of US shares held by Irish households.

The value of debt held increased by 13pc, while the number of quoted shares fell by 6pc.

Debt securities and fund shares represent less than 20pc of household investment, or around €120m in total.

Irish Independent

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