5 ASX shares to beat the Brexit sell off

As most investors would now be aware, the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) has fallen below 5,100 points today following a massive global sell-off.

The Australian dollar has also been smashed, falling more than 4% to trade at around 73.26 US cents.

Unsurprisingly, the only shining light has been the gold sector as investors rush back into the safe haven asset.

Although the market as a whole has been smashed, a number of stocks have actually been spared from the worst of today’s sell off, including:

ResMed Inc. (CHESS) (ASX: RMD) – The lower Australian dollar has acted like a cushion for ResMed today with its shares only falling by around 0.8%. The sleep apnoea specialist generates the bulk of its sales offshore and operates in a fast-growing sector of the healthcare market. Furthermore, its sales are unlikely to be affected by Britain leaving the European Union.

Cochlear Limited (ASX: COH) – Although Cochlear operates in a different part of the healthcare market to ResMed, it still benefits from the same tailwinds. The bionic ear maker also generates the bulk of its sales offshore and has delivered exceptional earnings growth for more than 10 years. The shares have fallen by around 0.9% to $120 per share.

Telstra Corporation Ltd (ASX: TLS) – Telstra shares have fallen by around 1.5% today and this, remarkably, makes it one of the best-performing blue-chip shares. Telstra is typically well supported during times of uncertainty because investors are attracted to its defensive characteristics. Telstra could, therefore, be one of the best stocks to own if this level of volatility continues.

Flight Centre Travel Group Ltd (ASX: FLT) – Flight Centre’s relative strength has been one of the day’s biggest surprises considering it has been one of the most volatile stocks over the past few months. The shares have ‘only’ fallen by around 1.8% which is quite surprising considering the huge fall in the Australian dollar today. This may be a sign that investors are more confident with the company’s current valuation.

Asaleo Care Ltd (ASX: AHY) – Excluding the gold miners, Asaleo Care is one of the few ASX200 stocks in positive territory today. The company manufactures and sells essential everyday items like toilet paper and feminine hygiene products and is behind well known brands such as Sorbent and Libra. The defensive nature of its business means it will be well supported on days like today and its shares are nearly 1% higher.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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