Brexit: Campaigns suspended after MP shot dead
- UK shaken after pro-Europe MP Jo Cox was killed while meeting constituents
- GBP rallied slightly over the US dollar and now close to resistance level
- The FTSE 100 shed 16.32 points, or 0.3%, to 5,950.48
- Bank of England maintained policy, keeping the Bank Rate at 0.50%
By Saxo APAC Sales Trading
A Brexit campaign has been suspended after Jo Cox, a British parliamentarian and advocate for the UK to remain in the European Union, was shot dead on Thursday as she met constituents.
GBPUSD was quiet overnight and rallied slightly and is trading closer to the resistance level at 1.4352.
Volatility:The GBP volatilities moved a bit lower in the back end but remain well supported as we get much closer to the vote. The short-term volatilities continue to be extremely bid with not much trading.
Equities: The FTSE 100 shed 16.32 points, or 0.3%, to 5,950.48 - the lowest level in almost four months. Aviva fell 3.2%, the biggest move since April 7. The move lower in copper dragged mining stocks into the red, with Anglo American down 2.9% to 612.4p, Antofagasta 2.4% lower at 409.7p, and BHP Billiton off by 1.8% a 807p. Morgan Stanley has warned that London's benchmark index could fall from current levels by around 16% if Britain votes to leave the EU next week.
Research/Comments: Brexit campaigns have been suspended after a UK Minister of parliament. Jo Cox (who backed remaining in Europe) was murdered. The killer’s motive remains unclear.
-- Edited by Adam Courtenay
Saxo research on Brexit: Check out our website for trade strategies, comments and /research