Following two days of intensive selling, the markets are posting a fairly decent recovery. The London FTSE100 index was up 2.12% today as the markets extended the rally from Tuesday. The EU summit yesterday was seen by some as a reason for a temporary lull and despite EU leaders stressing for the UK to invoke article 50, leaders agreed that further talks could be extended after the UK elects a new leader in September. Banking stocks under pressure were seen rising along with several indices, weathering the downgrades. In the UK, eight of the twelve banks were downgraded by ratings firm Moody's putting them on a watch list with a negative outlook.
In the US, equity markets closed in the green yesterday with the Dow Jones Industrials and the S&P500 both gaining 1.57% and 1.78% respectively by Tuesday's close. Today's US futures markets are pointing to a stronger open across the board.
Investors Rush Back to Stocks As Brexit Fears Fade
Andamento del mercato - 29/06/2016