FTSE 100 slumps after Brexit-driven blockbuster session
On Tuesday, British stocks tumbled, renouncing from a steep surge the day before because uncertainty regarding the Brexit referendum kept preoccupying investors.
The FTSE 100 lost 0.5%, reaching 6,169.94. The benchmark’s sectors were losing ground, headed by the basic materials group.
On Monday, the blue-chip index soared 3%, for the largest one-day percentage revenue since mid-February. The move arose after weekend surveys demonstrated a resurgence in support for the United Kingdom staying in the EU.
Late Monday, more opinion surveys were released. An ORB survey issued by the Telegraph newspaper demonstrated 53% of respondents supporting membership in the European Union, compared to 46% who are eager to cut ties. However, a poll by YouGov for TheTimes newspaper revealed that the “Leave” camp with a two-point lead, at approximately 44% to 42%.
While momentum seems to have shifted towards ‘Remain’, the final result is still very close to call.