Markets Right Now: Stocks rally as Britons vote on EU

AP News
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Posted: Jun 23, 2016 4:05 PM

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks are closing solidly higher on Wall Street, giving the market its biggest gain in a month, as hopes grow that Britons will vote to remain in the European Union.

European markets and the British pound also rose Thursday as Britons went to the polls. U.S. government bond prices fell, sending yields higher. Gold fell.

Banks posted big gains. Citigroup rose 4 percent and Bank of America climbed 3 percent.

The Dow Jones industrial average rose 230 points, or 1.3 percent, to 18,011.

It was the Dow's first close above 18,000 in two weeks.

The Standard & Poor's 500 index gained 27 points, or 1.3 percent, to 2,113. The Nasdaq composite climbed 76 points, or 1.6 percent, to 4,910.

The yield on the 10-year Treasury note rose to 1.74 percent.

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11:45 a.m.

Stocks are solidly higher on Wall Street as hopes grow that Britons will vote to remain in the European Union.

European markets and the British pound also rose Thursday as Britons went to the polls. U.S. government bond prices fell, sending yields higher.

Banks posted big gains. Citigroup rose 3 percent and Bank of America climbed 2.5 percent.

The Dow Jones industrial average rose 172 points, or 1 percent, to 17,954. The Standard & Poor's 500 index gained 20 points, or 1 percent, to 2,105. The Nasdaq composite climbed 54 points, or 1.2 percent, to 4,888.

The yield on the 10-year Treasury note rose to 1.73 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street as hopes grow that Britons will vote to remain in the European Union.

European markets and the British pound were also higher Thursday as Britons went to the polls. Safe-play assets like U.S. government bonds, utility stocks and gold fell.

The Dow Jones industrial average rose 155 points, or 0.9 percent, to 17,937. The Standard & Poor's 500 index gained 16 points, or 0.8 percent, to 2,101. The Nasdaq composite climbed 35 points, or 0.7 percent, to 4,868.

Oil prices rose, sending energy stocks higher.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.73 percent.