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European stocks surge 3.6% as Brexit fears ease

European stocks surged on Monday as declining fears of a Brexit vote buoyed global market sentiment, sterling and oil prices.

The pan-European STOXX 600 was up 3.6 percent. Global markets are reacting positively to several opinion polls over the weekend that showed that the remain camp was regaining momentum ahead of the referendum on European Union membership on Thursday.

Public opinion appears to have turned since the murder of pro-EU Labour MP Jo Cox last Thursday which led to the suspension of campaigning by both sides. However, pollsters claim that the death has had little impact on sentiment and the remain camp was always likely to gain support in the last few days running up to the vote. Campaigning has now resumed.

The British pound has climbed as the Brexit concerns have eased, reaching $1.4568 in the European trading session on Monday, compared to levels of around $1.40 on Thursday. Oil prices also extended gains on Monday...


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