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June, 30, 2016

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Business > Global Markets
Global stock prices rose Wednesday in a second day of recovery from a sharp-sell off prompted by Britain's vote to leave the European Union.
 
Oil prices extended gains on Wednesday, tracking a recovery in equity markets as leaders look to temper fears over the effects of Britain's shock EU exit and traders bet on a fall in U.S. stocks.
 
European stocks rose for the first time on Tuesday since Britain's shock vote to quit the EU and the pound rebounded as investors cautiously returned to the markets which remained jittery.
 
The pound rose in Asia Tuesday after hitting a new 31-year low in New York on worries about the effects of Britain's exit from the European Union, but analysts warned it could face fresh selling as the crisis develops.
 
Oil prices rebounded Tuesday as bargain hunting and fear of production outages in Norway outweighed Brexit concerns, traders said.
 
China weakened the yuan's fixing almost 1 percent to a 5-1/2 year low against the U.S. dollar Monday, officials said, the biggest downward move since August as the greenback surge after Britain's vote to leave the European Union.
 
Britain battled to stop worldwide Brexit alarm Monday but failed to prevent the pound crumbling to a three-decade low against the U.S. dollar as European shares took a fresh plunge.
 
UK brace for economic repercussions for Brexit as EU commissioner quits
The British were warned for weeks that a vote to leave the European Union would result in economic pain. Now they'll find out whether it will.
 
With its capacity boosted by nearly three times, Panama's enlarged canal -- set to be inaugurated on Sunday -- is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal.
 
The pound climbed against the U.S. dollar in Asian trade while stock markets were mostly up but traders stepped nervously as the UK began voting in a knife-edge in-out EU referendum Thursday.
 
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