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Stocks Surge With Pound as Brexit Odds Decline; Rupee Weakens

Posted by Chris Advincula on Jun 20, 2016 6:32:45 AM

(June 20 Bloomberg) Global equities rallied and the pound strengthened the most since 2008 on signs the campaign for the U.K. to stay in the European Union was gaining momentum. The yen declined with U.S. Treasuries and gold as haven demand eased.

The Stoxx Europe 600 Index headed for its biggest gain since August and emerging market shares advanced for a second day. Sterling jumped after a poll showed the campaign for the U.K. to remain in the EU leading by three percentage points before the referendum on Thursday. Spanish and Italian bonds gained and credit risk fell the most since March. The naira slid 23 percent after Nigeria let the currency float freely, and India's rupee sank to this month's low after the central bank chief said he will be stepping down. Oil rallied with industrial metals as gold retreated from a five-month high.

Click on the link below to see the full story from Bloomberg: (by James Regan and Lukanyo Mnyanda)

Stocks Surge With Pound as Brexit Odds Decline; Ruppe Weakens





Topics: GBPUSD, Stocks, Equities, U.K. Economy, Europe, Forex, BREXIT


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