Financial anxiety over Brexit subsides as markets stabilise

The pound steadied in early trading this morning and, European markets prepared to open higher, as anxious market sentiment over Brexit begins to subside. Sterling slipped around 0.1 per cent against the dollar early on Wednesday morning, after gaining around one per cent on Tuesday, even as experts predict the currency could significantly weaken in […]

The pound steadied in early trading this morning and, European markets prepared to open higher, as anxious market sentiment over Brexit begins to subside.

Sterling slipped around 0.1 per cent against the dollar early on Wednesday morning, after gaining around one per cent on Tuesday, even as experts predict the currency could significantly weaken in the days to come.

Asian markets traded up on Wednesday, off the back of an equity recovery across Europe and the US on Tuesday. Japan’s Nikkei was up around 1.57 per cent, while Hong Kong’s Hang Seng traded around 0.8 per cent higher.

The Euro Stoxx 50 and S&P 500 rose 2.27 per cent and 1.78 per cent respectively on Tuesday, as investors bought up cheap stocks following the mass sell offs of the previous two sessions, with futures markets suggesting markets will retain positive sentiment on Wednesday.

Shares across the Arabian Gulf opened marginally higher this morning.

The Dubai Financial Market General Index was up around 0.25 per cent, lead by Emaar Properties.

Abu Dhabi opened up around 0.2 per cent higher, while the Qatar Exchange was up around 0.5 per cent.

jeverington@thenational.ae

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Source: Business

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