British American Tobacco Plc (LON:BATS) and Imperial Brands Plc (LON:IMB) are among the ‘most compelling’ defensive shares to buy in the aftermath of the Brexit vote, according to Whitman Howard Equity Research.
In a note, Whitman Howard claims the larger companies in the UK’s Fast Moving Consumer Goods (FMCG) sector should overall be unaffected by the Brexit vote.
“Any investors looking to make a macro call should consider positively the predictable demand for large FMCG companies’ products and their international exposures,” it said.
“The UK tobacco sector looks most compelling. Among small and mid-caps, the soft drinks sub-segment looks particularly well placed.”