Pound and FTSE 100 sees biggest one-day rise in years ahead of EU vote


London’s top sell market, which holds billions of pounds worth of pension savings, the triturate and gold prices are among the investments set to be caught up in the mayhem.

The FTSE 100 has today understood by more than three per cent, after last week drop to a four-month low.

Wild gyrations are expected to continue until the June 23 plebiscite, as traders are swept up in momentum that can switch direction with no attend to.

At the same time, the pound has today seen its biggest one-day gain since 2009, with sharp movements against key currencies, containing the dollar and the euro, set to contine over the coming days.

Michael Hewson, chief Stock Exchange analyst at CMC Markets UK, said: “We’re still getting some rather zany predictions of what the pound might do in the event of a “leave” vote, which to some scale has caused some rather extreme positioning, and will likely bestow to a lot more choppiness in the coming days.”

Brexit volatility is also set to hit furnishes outside of the UK – especially in Europe, where investors are worried about whether the bloc can last if Britain votes to leave.

Rapid changes in the price of gold, and other justifiable haven investments, are expected to contine amid changes in trader reliance.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: “Indicates from the Brexit vote are buffeting the UK stock market, tossing it up and down as the theory polls shift this way and that.

“Until the vote is over we can antici te more price swings, as markets struggle to price in a unique anyhow that carries with it such a high degree of uncertainty.

“If you necessity to get an idea of what stocks will do well in the event of a vote to chain in the UK, it’s worth taking a look at today’s FTSE leader board.

“The deal in has clearly identified financials and house builders as beneficiaries of a vote to debris in the UK, with a Sterling rally also indicating how the currency might spur if we vote to remain in Europe.”

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