On June 23, 2016, a referendum was held in the United Kingdom (UK) to decide whether...

 

  

 

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On June 23, 2016, a referendum was held in the United Kingdom (UK) to decide whether the UK should remain a member of the European Union (EU) or whether it should leave the EU. The majority of UK voters chose in favor of leaving the EU. Following the announcement of the voting results, the pound sterling fell from 1.2843/ on June 23rd to 1.2173/ on June 26th. The price of J Sainsbury plc, Britain's second largest chain of supermarkets, also fell, from 247.40 to 222.90. J Sainsbury had approximately 22 million shares outstanding. Based on this information, what is J Sainsbury's economic exposure? On June 23, 2016, a referendum was held in the United Kingdom (UK) to decide whether the UK should remain a member of the European Union (EU) or whether it should leave the EU. The majority of UK voters chose in favor of leaving the EU. Following the announcement of the voting results, the pound sterling fell from 1.2843/ on June 23rd to 1.2173/ on June 26th. The price of J Sainsbury plc, Britain's second largest chain of supermarkets, also fell, from 247.40 to 222.90. J Sainsbury had approximately 22 million shares outstanding. Based on this information, what is J Sainsbury's economic exposure?