June 24, 2016 / 6:32 AM / 2 years ago

UPDATE 2-UK Stocks-Factors to watch on June 24

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June 24 (Reuters) - Britain’s FTSE 100 index is seen opening down between 6 percent to 7.5 percent, according to financial bookmakers, with futures down 9.1 percent ahead of the cash market open, on the day of a crucial vote by the British public on the UK’s membership in the European Union.

* The UK blue chip index closed 1.2 percent higher at 6,338.10 points on Thursday, a two-month high, after opinion polls showed support for the “Remain” camp rising.

* BREXIT: World financial markets dived as nearly complete results from the British referendum on EU membership showed a 51.7/48.3 percent split for leaving.

* British interest rate futures rallied on Friday after the country voted to leave the European Union, suggesting financial markets are pricing in a high likelihood of an interest rate cut by the Bank of England by the end of the year.

* The Bank of England said it would take all necessary steps to secure monetary and financial stability after sterling fell 10 percent and raised the prospect of a shock to the economy.

* S&P 500 and Nasdaq E-mini futures plummeted as much as 5 percent early on Friday, triggering overnight circuit breakers as global markets reeled from Britain’s vote to quit the European Union.

* Ratings agency Standard and Poor’s said Britain’s top-notch “AAA” credit rating is no longer tenable after voters opted to leave the European Union, the Financial Times reported on Friday.

* Indian automaker Tata Motors Ltd’s British luxury arm Jaguar Land Rover will remain committed to all its manufacturing sites and investment decisions, a company spokeswoman said in a statement on Friday.

* The pound saw its worst day in living memory, losing 17 U.S. cents, and hit its lowest levels since 1985.

* Benchmark 10-year euro zone sovereign bond yields fell to a fresh record low below zero on Friday as investors rushed to the safety of German government debt.

* Britain’s Foreign Secretary Philip Hammond said Conservative party leader David Cameron would continue as Prime Minister despite losing his campaign to keep Britain in the European Union. (Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Sherry Jacob-Phillips)

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