Overseas Trading: 'Brexit' Worries Plague Bank of England

European markets are lower at midday, as the BoE called out "increased uncertainty" about a "Brexit"

by Karee Venema

Published on Mar 17, 2016 at 8:39 AM
Updated on Jun 24, 2020 at 10:16 AM

Most Asian markets settled higher today, following a relatively dovish stance on interest rates from the U.S. Federal Reserve and rising oil prices. In China, the Shanghai Composite surged 1.2% -- its fifth consecutive daily win -- amid increased trading volume. Elsewhere, Hong Kong's Hang Seng added 1.2%, and South Korea's Kospi rose 0.7%. Japan's Nikkei sat out the regional bullish bias, though, shedding 0.2% as the yen strengthened against the dollar and February exports declined.

European markets are lower at midday, as stocks react to the latest policy decision from the Bank of England (BoE). Specifically, the central bank chose to stand pat on its current monetary policy, citing "increased uncertainty" surrounding a possible "Brexit." Exporters are also dragging indexes lower, as the euro rises against the greenback. At last check, the German DAX is off 2%, the French CAC 40 is down 1.7%, and London's FTSE 100 has given back 0.4%.

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