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3 share bargains from the Brexit crash

The headlines are rightly filled with news of the historic outcome from the United Kingdom’s (UK) referendum to “go it alone” and exit the European Union.

Global financial markets have been thrown into turmoil.

Currency markets are dealing with a devaluation in the British pound.

The gold sector is once again proving its worth as a safe haven asset.

Meanwhile, equity markets have also experienced falls as investors flee the uncertainty which has been created.

British banks have been amongst the biggest losers, although ASX stocks with exposure to the UK economy have also fallen. In the past few days numerous ASX-listed companies have been sold off, perhaps in some cases, unfairly so.

Here are three “on the nose” shares which have caught my eye.

Flight Centre Travel Group Ltd (ASX: FLT) has a long established presence in the UK. While there could be disruptions to its UK-based business, there could also be positive benefits from a Brexit. For example, a weaker pound could make travel for Australians to the UK more appealing which could see a boost in Flight Centre’s business here in Australia.

Macquarie Group Ltd (ASX: MQG) operates a diverse global business and while it certainly has exposure to the UK financial markets, this could equally be a positive if Macquarie positions itself to adapt to changed circumstances.

Computershare Limited (ASX: CPU) announced just last month that it had won a significant contract with the British government which could add roughly $200 million to profits over seven years of the deal. The contract is a reminder of the significant business operations Computershare has in the UK. However it needs to be kept in perspective of the wider group. With global operations and a long term tailwind of outsourcing back office operations, Computershare’s business arguably remains sound.

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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Motley Fool contributor Tim McArthur 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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