U.K. stocks are "really cheap" and are a "pretty compelling" buy right now but Brexit is complicating the investment landscape in Britain, an investment analyst told CNBC.The transition period ends at the end of 2020.U.K. stocks are "really cheap" and are a "pretty compelling" buy right now despite Brexit complicating the investment landscape in Britain, one investment analyst told CNBC Tuesday.
U.K. stocks have taken a hammering since the coronavirus pandemic emerged in Europe in early spring, with thedown 21.5% year-to-date. Aside from the economic damage wrought by the virus, U.K. market sentiment has been buffeted by ongoing uncertainty over Brexit. A no-deal scenario would very likely lead to a depreciation of sterling against other major currencies that could boost the attractiveness of U.K. stocks, but Wall said the situation was not that simple in the case of a no-deal Brexit.
"Having said that, at these prices, if you're talking a long-term view, the U.K. is very cheap. Although it might be a bumpy ride over the next six to 12 months. in the long-term view, these prices are pretty compelling," she said.