FTSE 100 defies Brexit turmoil and hits 10-month high

Discussion in 'Market News' started by Lily, Jul 1, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    This week’s rebound was a sharp contrast to just a week earlier when investors had woken up to the news Britain had voted to leave the EU

    The prospect of interest rate cuts and a flurry of bargain-hunting by stock market investors has helped the FTSE 100 shrug off the Brexit vote to hit a 10-month high.

    In a strong start to the second half of 2016, the index of London-listed bluechip shares finished up 73.5 points, or 1.1%, on the day at 6,577.83. That built on solid gains clocked up over the previous three days and left the FTSE 100 up 7.2% over the week – the biggest weekly rally since late 2011, when hopes for a solution to the eurozone crisis had fired up the FTSE and other stock markets around the world.

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