More and more oil & mining companies are factoring Brexit into forecasts

In anticipation of and in the weeks after the vote by the UK to leave the European Union, Brexit has increasingly been factored into the economic forecasts of the extractives industry, our research of financial reports filed to regulators globally shows.

We can examine this reporting trend across the oil, gas, and mining sectors. The trend began before the vote in May, with filings made by companies like Still Limited to the Bombay Stock Exchange, warning of the effects of Brexit on their future activities. Once the referendum was passed in June, more and more companies — such as Petrobras Global Finance BV and BHP Billiton Ltd — reported on Brexit’s potential impact on their business, in particular in the 2nd Quarter submissions to financial regulators.

“Global growth over the remainder of the 2016 calendar year is expected to remain modest”, as stated in BHP’s latest half year report, “and subject to downside risks, including the uncertain economic consequences of ‘Brexit'”. Other companies mention the effect of the referendum on gold prices to their investors.

Through Aleph you can quickly find out which companies are choosing to include Brexit in their reports to investors – mainly included in either the risk, or business climate sections.

Aleph updates daily and tracks filings from financial regulators and stock exchange news sites on all continents including the Canadian SEDAR, US SEC, Australian Stock Exchange, and London Stock Exchange.

Navigate through this graph to see details on the companies reporting on Brexit. Note that the G20 summit has just passed and we expect, in the next reporting cycle, an increase in mentions of the Brexit referendum.

Dataset available here [google sheet]

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