Pound and shares soar as Brexit fears ease – business live

Discussion in 'Market News' started by Lily, Jun 20, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Stock markets are rallying as polls show the Remain campaign clawing back ground ahead of Thursday’s EU referendum vote

    8.10am BST

    Britain’s FTSE 100 index has surged by 136 points at the start of trading, as City investors react to the polls showing the Remain campaign gaining ground.

    Almost every share is gaining ground, as money pours back into shares, pushing the benchmark index up by over 2%.

    A positive European open comes as weekend Brexit polls (and bookies’ odds) suggest the Remain campaign regaining some lost ground and in some cases re-taken the lead ahead of Thursday’s UK referendum vote on EU membership.

    A higher chance of the UK voting to stay is a relief for markets (equities and the pound sterling) that had been preparing themselves for a Leave vote and the uncertainty it could inflict from both a financial, economic and political standpoint.

    8.01am BST

    And we’re off! European stock markets are opening sharply higher, with financial stocks leading the way......

    8.00am BST

    Today’s newspaper front pages show how the EU referendum campaign picked up last night:

    Monday's Guardian:
    I need to make better EU case, says Cameron#tomorrowspaperstoday #bbcpapers #EUref pic.twitter.com/n39YvAhO92

    Revised Times front page:
    Brexit camp divided as senior Tory walks out#tomorrowspaperstoday #bbcpapers pic.twitter.com/LyoYwZpMO2

    Monday's Telegraph front page -
    Boris: Vote Leave, change history#tomorrowspaperstoday #bbcpapers #EUref pic.twitter.com/oMyQHOkQEg

    7.55am BST

    Sterling is rallying hard this morning - another sign that Brexit worries are easing.

    The pound has jumped more than two cents, or 1.5%, to $1.4572, after weekend opinion polls showed the Remain campaign picking up more support.

    In the UK, there were three surveys released over the weekend that all showed some swing back towards ‘Remain’. The Survation poll showed a 45/42 lead for ‘Remain’ (up from 42/45 previously), a YouGov Poll showed a 44/42 lead (42/44 previously) while Opinium stood at 44/44 equal split.

    Those polls were all conducted around the tragic events of last week - with some responses coming in before and some after the murder of Jo Cox.

    GBP outperforms in FX markets after the latest batch of polls show a lead for the ‘remain’ camp ahead of Thursday’s referendum

    7.43am BST

    Here’s a round-up of the latest referendum opinion polls (from our EU referendum liveblog):

    7.41am BST

    Stock markets across Asia have soared today, as investors grew more confident that the British public will vote to remain in the EU.

    Japan’s Nikkei 225 index led the way, gaining almost 2.3% today.

    Risk-on start to a high-risk week: #Japan's Nikkei ends up 2.3% at 15965.30 while safe haven Yen weakens vs Dollar. pic.twitter.com/35c3LaCXa0

    The entire market is now focused on the UK’s EU referendum result....

    It is expected that a vote to remain would lead to a quick unwinding of risk premium and a substantial risk-on rally, whereas a Brexit vote would have the opposite effect.”

    7.28am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    It’s a crucial week for investors around the globe, as the long-running UK referendum campaign enters its final days.

    Our European opening calls:$FTSE 6182 up 161
    $DAX 9855 up 224
    $CAC 4297 up 103$IBEX 8574 up 212$MIB 17190 up 267

    Related: EU referendum live: Warsi swaps sides over 'nudge-nudge xenophobia'

    Weekend Brexit polls suggesting we're back to neck-n-neck and #FTSE100 is back to middle of May 6050-6300 range pic.twitter.com/2Tu7iIE4rY

    Continue reading...

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