Monday, June 20, 2016

Markets Soar After Poll Suggests Britain Will Stay in European Union

Hmm. It's just one poll?

Maybe traders are really jonesin' for the U.K. to stay?

At WSJ, "Global Stocks Soar After Poll Suggests U.K. Will Remain in EU":
Stocks, sterling and oil soared at the start of the week after polls suggested the U.K. was more likely to vote to remain in the European Union in Thursday’s referendum than previously expected.

The Stoxx Europe 600 jumped 3.7%, on track for its best day since August, while the British pound surged more than 2% against the dollar to as high as $1.4674.

Futures pointed to a 1.3% opening gain for the S&P 500. Changes in futures markets don't necessarily reflect market moves after the opening bell

“We’re in this sort of frenzied period where Brexit is front and center,” said Bob Doll, senior portfolio manager at Nuveen Asset Management.

A survey published in the Mail on Sunday showed that 45% of respondents backed the U.K. staying in the trade bloc, compared with 42% in favor of leaving. The poll-of-polls, averaging the last six polls in the U.K. vote, returned to 50/50, suggesting growing momentum for the “remain camp” in the referendum...
Keep reading.

There's no mention of the Jo Cox murder, but no doubt ghoulish British leftists will continue to exploit the poor woman's death.

FLASHBACK: From 2004, "Postcard from Britain: Immigration Is Hot Issue as Elections Approach."