Overseas Trading: European Stocks Higher as 'Brexit' Vote Gets Underway

European markets are all higher at midday, as U.K. residents head to the polls

Jun 23, 2016 at 8:44 AM
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Stocks in Asia finished mixed ahead of today's "Brexit" vote in the U.K. In a relatively quiet session, Japan's Nikkei added 1.1%, even as the yen maintained its strength against the dollar, with traders mostly expecting the "remain" vote to win the referendum. Hong Kong's Hang Seng also ended higher, climbing 0.4%.

On the downside, China's Shanghai Composite fell 0.5% for the day. Rounding things out, South Korea's Kospi gave up 0.3% -- despite huge gains for Hyundai Merchant Marine, which surged nearly 30% on reports it may join the world's largest shipping alliance, 2M.

European markets are higher, as voters in the U.K. head to the polls to decide whether or not the nation will remain a part of the European Union (EU). After at least one poll yesterday suggested the "leave" camp was in the lead, more recent estimates are showing the "remain" side with a leg up -- boosting the British pound to a six-month high against the U.S. dollar.

Elsewhere, Markit's flash purchasing managers index (PMI) for the eurozone slowed in June, as business activity in France fell into contraction territory. At last check, London's FTSE 100 is up 1.2% -- hitting a two-month peak -- while Germany's DAX has added 1.7%, and France's CAC 40 has advanced 1.8%.

overseas stocks june 23

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