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FTSE edges higher ahead of EU poll as financial shares lead the way

Discussion in 'Market News' started by Lily, Jun 22, 2016.

  1. Lily

    Lily Forum Member

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    Leading shares come off best levels in final minutes of trading

    Financial shares have led the market higher despite a last minute sell off which saw the leading index come sharply off its best levels.

    Having climbed as high as 6315 and ahead around 70 points at the closing auction, the FTSE 100 finished the last day before the EU referendum with a 34.64 point rise to 6261.19. The close of the market coincided with a new poll showing a one point lead for the campaign for the UK to leave the EU.

    As the final day of campaigning goes on, with both sides looking to wring every last vote from the British public, markets have remained positive, with further solid gains for the FTSE 100 and European indices. London’s leading index has enjoyed a round trip of around 800 points since 9 June, with the country’s Brexit referendum the chief culprit for the move. Remarkably, the index finds itself within touching distance of its June high, a clear sign that investors at least are now relatively confident that the UK will vote to remain in the EU on Friday. And, in a further sign of confidence, financial stocks dominate the leader board in London, with those with a strong UK focus some of the biggest gainers.

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