US STOCKS-Wall St ends higher as Britain seen staying in EU

lunes 20 de junio de 2016 16:34 GYT
 

* Broad rally as fear over Brexit subsides

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* Indexes up: Dow 0.7 pct, S&P 0.6 pct, Nasdaq 0.8 pct

By Rodrigo Campos

NEW YORK, June 20 (Reuters) - Wall Street rose on Monday, though indexes ended far from the highs of the day, in a relief advance after indications that British voters later this week will choose to remain in the European Union.

The day's gains were cut in more than half from the session highs, but contrasted with declines in six of the last seven sessions. The S&P 500 closed 0.6 percent higher after gaining as much as 1.4 percent, but the advance was still the largest in nearly a month.

Stocks fell sharply last week, partly on worries of what a British exit from the EU would mean for the global economy. The vote on whether to stay is scheduled for Thursday and the most recent polls showed a change in momentum to favor the 'remain' camp.

"The market is positioning for a 'remain' vote, so you see the fear and uncertainty trade unwinding right now," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

She said, however, that the reverse trade could be triggered by any sign the Brexit - or British exit from the EU - camp is gaining momentum.   Continuación...