The FTSE 350 index of pharmaceuticals, tobacco and mining stocks have all seen double digit percentage increases in the last 11 days as investors look to defensive companies, those that recognise high levels of revenue outside of the EU or pay high dividends.
Pharmaceuticals and healthcare groups sell essential products that will withstand a weakening domestic economy, so (arguably) do tobacco companies which explains their steady share price rises. These companies are also beneficiaries of the fact that they recognise only small percentages of revenue in sterling as are many large resource companies.
Investors have also fled to the miners as fears of inflation and uncertainty have sent the price of gold soaring. And even outside precious metals, the miners do very little business within the EU - China is by far the largest market for industrial minerals, for example.
