NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):
5:45 p.m.
Reports that the ‘remain’ vote appears headed to victory in the U.K.’s EU referendum are sending the British pound surging against the U.S. dollar.
The pound was up about 1 per cent at $1.50. It stood at about $1.48, which had been its highest level of the year, before the polls closed.
Shortly after the voting ended, a leading supporter of the campaign to leave the European Union said it looked like his side has lost. U.K. Independence Party leader Nigel Farage told Sky news “it looks like ‘remain’ will edge it” in the referendum on whether to stay in the 28-nation bloc.
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4:00 p.m.
Stocks are closing solidly higher on Wall Street, giving the market its biggest gain in a month, as hopes grow that Britons will vote to remain in the European Union.
European markets and the British pound also rose Thursday as Britons went to the polls. U.S. government bond prices fell, sending yields higher. Gold fell.
Banks posted big gains. Citigroup rose 4 per cent and Bank of America climbed 3 per cent.
The Dow Jones industrial average rose 230 points, or 1.3 per cent, to 18,011.
It was the Dow’s first close above 18,000 in two weeks.
The Standard & Poor’s 500 index gained 27 points, or 1.3 per cent, to 2,113. The Nasdaq composite climbed 76 points, or 1.6 per cent, to 4,910.
The yield on the 10-year Treasury note rose to 1.74 per cent.
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11:45 a.m.
Stocks are solidly higher on Wall Street as hopes grow that Britons will vote to remain in the European Union.
European markets and the British pound also rose Thursday as Britons went to the polls. U.S. government bond prices fell, sending yields higher.
Banks posted big gains. Citigroup rose 3 per cent and Bank of America climbed 2.5 per cent.
The Dow Jones industrial average rose 172 points, or 1 per cent, to 17,954. The Standard & Poor’s 500 index gained 20 points, or 1 per cent, to 2,105. The Nasdaq composite climbed 54 points, or 1.2 per cent, to 4,888.
The yield on the 10-year Treasury note rose to 1.73 per cent.
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9:35 a.m.
Stocks are opening higher on Wall Street as hopes grow that Britons will vote to remain in the European Union.
European markets and the British pound were also higher Thursday as Britons went to the polls. Safe-play assets like U.S. government bonds, utility stocks and gold fell.
The Dow Jones industrial average rose 155 points, or 0.9 per cent, to 17,937. The Standard & Poor’s 500 index gained 16 points, or 0.8 per cent, to 2,101. The Nasdaq composite climbed 35 points, or 0.7 per cent, to 4,868.
Oil prices rose, sending energy stocks higher.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.73 per cent.
