Business Insider
June 29, 2016
June 29, 2016
Stocks across Europe are continuing to rally on Wednesday, as investors start to fully come to terms with Britain’s vote to leave the European Union late last week.
Every single major index in Europe witnessed big drops across Friday and Monday, with a sea of red washing across market boards. However, some of the mild panic felt by investors in the past couple of days has now dissipated, and as a result equities across the board are now high for a second consecutive day.
Around 8:30 a.m. BST (3:30 a.m. ET) Britain’s FTSE 100, the country’s blue-chip index, is higher by 1.6% to 6,238 points, trading at a higher level than has been seen for virtually all of 2016. It should be noted that Britain’s blue-chip index is disproportionately filled with companies that denominate their assets in dollars and as a result are not hugely affected by the massive drop in the pound that has hit since the British exit from the EU, or Brexit. That means that the FTSE has outperformed its continental rivals.
Here is how the FTSE looks on Wednesday:
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