Why European markets are trading firm despite Brexit worries

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New Delhi | Updated: June 23, 2016 3:20:01 PM

European markets were trading firm on Thursday in the morning trade despite Britain's referendum on EU membership with most opinion polls putting the "Leave" and "Remain" camps neck-and-neck.

brexit, brexit news, brexit india impact, european marketsEuropean markets were trading firm on Thursday in the morning trade despite Britain’s referendum on EU membership with most opinion polls putting the “Leave” and “Remain” camps neck-and-neck.

European markets were trading firm on Thursday in the morning trade despite Britain’s referendum on EU membership with most opinion polls putting the “Leave” and “Remain” camps neck-and-neck. DAX and FTSEurofirst 300 index were trading nearly 2 per cent and 1.71 per cent up at 10264.48 and 1,365.32, respectively, in the morning trade. European indices are set for their fifth straight day of gains.

Richard Griffiths, associate director at Berkeley Futures, said most investors were backing a victory for the ‘Remain’ camp, but added markets could fall by 7-12 per cent in early trading on Friday if the ‘Leave’ camp won.

Also readBrexit Poll: Some Britain-linked stocks gain on firm European cues

Below are factors which are driving sentiments in the European markets as Britain votes in a referendum to either stay in EU or not

1) Metals and mining stocks advanced as London copper prices neared two-week highs.

2) Experts have consistently given a greater probability towards Britain staying in the bloc rather than leaving in a “Brexit” scenario. The result is due on Friday.

Back home, domestic benchmark Sensex soared over 200 points tracking firm global cues.

(With inputs from agencies)

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