: The FTSE 100 had been on course for its highest level for two months, up more than 70 points, before closing just 35 points higher at 6261, according to The Guardian. The pound, seen as a barometer for confidence in UK assets, had been up a cent against the dollar but lost half a cent after the poll came out to trade at around $1.47. After a day in which shares and the pound had both risen amid growing confidence that David Cameron gamble to call the vote would pay off, there was a last-minute wobble following the publication of an Opinium survey that gave the leave campaign a marginal lead. Pound v dollar graphic 22/06/16 Despite the late sell-off, the FTSE has regained the losses it sustained last week when the City started to take fright that a Brexit was on the cards. He forecast that the index could fall as low as 4900 in the worst case after a Brexit vote, the lowest level since the height of the eurozone crisis in 2011. City dealers expect the FTSE to plunge if both they and the bookmakers are wrong about their assumption that the referendum will back staying in the EU. According to predictions by a UBS strategist, Yianos Kontopoulos, £350bn could be wiped off the FTSE 100.
(news.financializer.com). As
reported in the news.
Tagged under , topics.