Global stock market opens with big rally ahead of Brexit vote

Global stock market opens with big rally ahead of Brexit vote

RTE 1GBP: This morning, the London Stock Exchange opened for trading after the first wave of Brexit voting results, confirming a sharp increase in the British economy as voters head to the polls in Britain’s largest city.

London stock market rose 6.3 per cent to 6,973.75 points.

The Dow Jones industrial average rose 26.4 points, or 0.4 per cent, to 26,867.75.

Billionaire George Soros has donated $1.25 million to Vote Leave and other groups supporting the Remain campaign, as the result of the EU referendum was announced.

EU referendum: How the UK voted and why it matters article The pound fell to $1,100.00 in London, its lowest since December 2011, while sterling also fell against the dollar.

Euro zone finance ministers will meet next week to discuss further cooperation in tackling the fallout from the Brexit vote.

European Central Bank President Mario Draghi has urged Europe to remain “strong” in a statement, while German Chancellor Angela Merkel said she wants to stay with the euro.

Sweden has announced that it will increase its deficit target to 2 per cent of gross domestic product by 2019, but the country’s inflation is running at more than 8 per cent.

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