European markets and related exchange traded funds (ETFs) were leading the market rebound Thursday ahead of widely observed “Brexit” vote.
The European Stoxx 600 ended 1.5% higher Thursday. Meanwhile, in the U.S., the iShares MSCI EMU ETF (NYSEArca: EZU) added 2.7% and the SPDR EURO STOXX 50 (NYSEArca: FEZ) returned 2.8%. The two ETFs both focus on Eurozone countries.
Additionally, more peripheral European markets charged ahead Thursday, with the iShares MSCI Italy Capped ETF (NYSEArca: EWI) up 4.4%, Global X MSCI Norway 30 ETF (NYSEArca: NORW) 3.7% higher and Global X MSCI Greece ETF (NYSEArca: GREK) up 3.8%.
Meanwhile, the iShares MSCI United Kingdom ETF’s (NYSEArca: EWU), the largest U.K.-related ETF, gained 1.8%, and the CurrencyShares British Pound Sterling Trust (NYSEArca: FXB) rose 0.7%. British assets have been strengthening over the past week, suggesting that traders are growing less concerned about a potential “leave” vote passing.
Global equities markets seemed optimistic heading into the U.K. vote on its European Union membership, despite polls showing a neck-to-neck race, CNBC reports.
“I think the market’s already voted. … It looks like they’re looking for the stay vote to prevail,” Adam Sarhan, CEO of Sarhan Capital, said told CNBC.