They Think It’s All Over.

21st June 2016

Ian Copelin, Investment Director, my wealth comments “As the UK’s EU referendum campaign enters its final few days, opinion polls since the murder of the pro-EU Labour MP, Jo Cox, suggest that the ‘Remain’ campaign has recovered some of the ground it had recently lost.

Furthermore, bookmakers have shortened their odds on a ‘Remain’ vote.  Data from Oddschecker, which compiles odds from all the main bookies, currently suggests that the ‘Remain’ campaign is firmly in the lead with only a 25% chance of a Brexit, while Ladbrokes has stated that 91% of all the money staked on the referendum yesterday had been placed on voters rejecting Brexit.

Consequently, the FTSE-100 reacted positively, jumping 182.91 points or 3.04% yesterday, reversing last week’s weakness when anxiety over a potential ‘Leave’ vote pushed the FTSE-100 briefly below 5,900 last Thursday.  Elsewhere the pound strengthened strongly yesterday to US$1.4678 (it fell to US$1.4012 last Thursday).”