Overseas Trading: Global Stocks Surge as 'Brexit' Fears Subside

A fresh batch of polls released over the weekend show rising support for the U.K. to remain in the EU

by Karee Venema

Published on Jun 20, 2016 at 8:50 AM
Updated on Jun 20, 2016 at 8:54 AM

Asian stocks rallied today, as a fresh batch of "Brexit" polls showed increasing support for the "remain" camp ahead of this Thursday's referendum in the U.K. -- and in the wake of a tragic turn of events. Stocks also reacted to rising oil prices, which appear to be on the mend following last week's dismal showing. Japan's Nikkei led its regional peers higher, jumping 2.3% as a cooling yen overshadowed an eighth straight monthly decline in exports in May.

Elsewhere in the region, Hong Kong's Hang Seng tacked on 1.7%, and South Korea's Kospi rose 1.4%. China's Shanghai Composite brought up the rear, adding 0.1% by the close.

Stocks in Europe are surging at midday, as rising support for the U.K. to stay in the European Union (EU) boosts the British pound to its biggest percentage gain since 2008. At last check, the French CAC 40 is up 3.7%, the German DAX is 3.6% higher, and London's FTSE 100 is flirting with a 3.3% lead.

Overseas Trading June 20

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Wall Street Roars Higher Amid Civil Unrest
Investors weighed a mixed bag of jobs data
AstraZeneca Stock Flat Despite COVID-19 Vaccine News
AstraZeneca saw a rise in capacity for its COVID-19 vaccine candidate
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.