Morning Briefing: Markets nervous ahead of Brexit vote

Morning Briefing: Markets nervous ahead of Brexit vote

Morning Briefing: Markets nervous ahead of Brexit vote Markets nervous ahead of Brexit vote
Britain goes to the polls Thursday and despite some polls showing a recent swing towards remaining in the EU, there is great uncertainty. With so many opinions flying around from politicians, economists, business leaders and even celebrities, the vote may come down to those that are yet to make a firm decision.

Analysts are talking of doomsday scenarios for the pound and equities if the UK votes to leave the EU but no-one really knows what will happen due to the uniqueness of the situation.

Easing fears over a ‘leave’ vote, prompted by the murder of MP Jo Cox last week, have been replaced by nervousness as the vote approaches.

Asian equity markets closed mixed with Japan and Australia closing lower while China, Hong Kong and Seoul were among those gaining.

European indexes are broadly higher following a positive end in the previous session.
Wall Street and Toronto are expected to open higher.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 17,829.73 (+0.14 per cent) +1.88 per cent -1.60 per cent
TSX Composite 14,012.32 (-0.02 per cent) +0.67 per cent -5.26 per cent
 
Europe (at 5.30am ET)
UK FTSE (previous) 6,235.77 (+0.15 per cent) +1.29 per cent -8.64 per cent
German DAX 10,053.88 (+0.38 per cent) +1.39 per cent -12.27 per cent
 
Asia (at close)
China CSI 300 3,133.96 (+0.89 per cent) +1.81 per cent -32.41 per cent
Japan Nikkei 16,065.72 (-0.64 per cent) -4.01 per cent -21.36 per cent
 
Other Data (at 5.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
51.22
(+1.19 per cent)
50.50
(+1.30 per cent)
1268.00
(-0.35 per cent)
U$0.7827
 
Aus. Dollar
U$0.7498

Oil prices rebound on US stock draw data
A report from the American Petroleum Institute shows that the US stock draw was far greater than expected – 5.2 million barrels – ahead of expected market volatility due to the Brexit vote.

The official US Dept. of Energy stockpile data will be released Wednesday and may trigger a drop in prices if it differs widely from the API figures.

US crude was trading above $50 overnight along with Brent.