Trump victory shock is 'effectively a second Brexit' says Sorrell

Sir Martin Sorrell has described Donald Trump's election victory as a "second Brexit" that took markets by surprise.

He said it was "going to take a significant amount of time to assess the implications beyond the short term" of the Republican billionaire's shock win.

The chief executive of global ad giant WPP (Frankfurt: A1J2BZ - news) was the first FTSE 100 chief executive to make public his views on Mr Trump's win.

Shares (Berlin: DI6.BE - news) in WPP were down 3%.

In a statement, in which 71-year-old Sir Martin also revealed the birth of his child in New York on polling day, he said: "A welcome to a rollercoaster world."

He said the result was "effectively a second Brexit that leaves many very surprised, including the markets and me".

He added: "Increased levels of uncertainty will mean more hesitation to make important decisions in the short term, both by people and governments.

"But it may accelerate implementation of helpful reforms in the medium term to reduce uncertainty and stimulate investment as a result.

"Clearly immigration, trade and terrorism were key issues that swayed electoral opinion in a very significant way, just as they did in the UK, and probably will in the European referenda and elections to come.

"There will now be a lot of reassessment, including of polling techniques.

"Electorates at times like these clearly don't like to be told how they're going to vote, especially by the media and other elites."

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