(June 23 Bloomberg) Stocks gained with U.S. equity-index futures and the pound strengthened to its highest level this year as teh U.K.'s referendum on membership of the European Union got under way.
The MSCI All-Country World Index hit a two-week high, with above-average trading in shares on Europe's benchmark, amid a vote that past opinion polls indicated was too close to call. A gauge of sterling advanced for a second day, while a measure of implied overnight price swings versus the dollar climbed to a record. The U.S. currency weakened versus all of it major peers except the yen. The Mexican peso and Russia's ruble led gains among oil-exporting nations as crude oil advanced. The cost of insuring high-yield corporate debit against default fell for a fifth day, the longest run since April. U.S. Treasuries dropped as Spanish and Italian notes rose.
Click on the link below to see the full story from Bloomberg: (by James Regan and Alan Soughley)