Stocks Higher in the U.K. after Exit Seems Less Likely

FTSE Indexes were higher Wednesday after stocks in Europe gained broadly. The FTSE 100 was higher at 6,262.85 for a gain of 43.59 points or 0.70 percent. The FTSE 250 was higher at 17,232.64 for a gain of 96.97 points or 0.57 percent.

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Source: FTSE 100 and FTSE 250. Google Finance.

In the U.K., financial and energy stocks posted the day’s highest gains mostly after sentiment towards staying in the European Union was higher, according to a survey from the Evening Standard by Opinium. For the day easyJet was one company gaining as it relies highly on cross border activity across the European Union.  On Wednesday, easyJet was higher by 38.00 points or 2.50 percent to 1,556.00 GBX as investors signaled their favor for staying in the European Union.

Other stocks gaining for the day included BP and Royal Dutch Shell which were both higher with improved oil prices. BP gained 3.99 points or 1.11 percent to close at 361.79 GBX for the day while Royal Dutch Shell was higher by 19.80 points or 1.20 percent to close at 1,674.80 GBX.

Bayer and Monsanto also continued to trade actively in market trading as Monsanto rejected Bayer’s $62 billion takeover bid but said it was amenable to negotiating. German based Bayer was down -1.75 points or -1.97 percent to 87.25 EUR. Monsanto was higher at $111.63 with a gain of 2.33 points or 2.13 percent.

Data from IFA magazine reported the following stocks leading gains and losses in the U.K. on Wednesday.

Gains

Serco Group (SRP)  11.48 percent

Zoopla Property Group (WI) (ZPLA)  6.97 percent

Paysafe Group (PAYS)  6.67 percent

Regus (RGU)  5.41 percent

Clarkson (CKN) 4.40 percent

Mitchells & Butlers (MAB)  4.35 percent

Paragon Group Of Companies (PAG)  4.00 percent

Virgin Money Holdings (UK) (VM.)  3.85 percent

Ladbrokes (LAD) 3.54 percent

Interserve (IRV)  3.42 percent

Losses

Centamin (DI) (CEY)  -4.72 percent

AO World (AO.)  -3.37 percent

Acacia Mining (ACA)  -3.30 percent

DFS Furniture (DFS)  -3.24 percent

Big Yellow Group (BYG)  -3.21 percent

Stagecoach Group (SGC)  -2.14 percent

Sophos Group (SOPH)  -1.78 percent

OneSavings Bank (OSB)  -1.77 percent

Polymetal International (POLY)  -1.67 percent

Derwent London (DLN) 3,371.00p -1.63 percent

In other European markets on Wednesday, Germany’s DAX was higher at 10205.21 for a gain of 147.90 points or 1.47 percent. France’s CAC 40 was higher at 4481.64 for a gain of 50.12 points or 1.13 percent. The Stoxx Europe 600 was higher at 348.56 for a gain of 4.44 points or 1.29 percent. The Europe Dow was higher at 1571.34 for a gain of 26.69 or 1.73 percent.

In Asia, stock trading was mixed. Japan’s Nikkei was higher at 16757.35 for a gain of 258.59 points or 1.57 percent. Hong Kong’s Hang Seng Index was higher at 20368.05 for a gain of 537.62 points or 2.71 percent. In China, the Shanghai Composite was lower at 2815.09 for a loss of -6.58 points or -0.23 percent. In India, the S&P BSE Sensex  was higher at 25881.17 for a gain of 575.70 points or 2.28 percent. The Asia Dow was higher at 2619.25 for a gain of 58.05 points or 2.27 percent.

U.S. market indexes were higher Wednesday. The Dow Jones Industrial Average was higher at 17,851.51 for a gain of 145.46 points or 0.82 percent. The Standard & Poor’s 500 was also higher at 2,090.54 for a gain of 14.48 points or 0.70 percent. The Nasdaq Composite was higher for the day at 4,894.89 for a gain of 33.84 points or 0.70 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000, higher at 1,141.02 for a gain of 5.72 points or 0.50 percent; the S&P 600 at 697.88 for a gain of 3.86 points or 0.56 percent; the S&P 400 Mid-Cap Index, at 1,481.20 for a gain of 9.71 points or 0.66%; the Russell 3000, at 1,231.34 for a gain of 8.44 points or 0.69 percent; the Russell 1000, at 1,157.12 for a gain of 8.11 points or 0.71 percent; and the Dow Jones U.S. Select Dividend Index, at 587.68 for a loss of 2.94 points or 0.50 percent.

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