Chancellor George Osborne will move to try to calm market turmoil triggered by the pro-Brexit vote as Boris Johnson broke cover in a bid to start healing Tory wounds ripped open by the bitter referendum battle.
“The result of the UK’s referendum has sparked pandemonium in financial markets as the leave campaign has proved victorious after securing 51.9% of the vote.
London’s premier index was flat as investors paused for breath ahead of Thursday’s vote on Britain’s membership of the European Union.
Shares in British Gas parent Centrica dived today after the utilities firm announced a surprise share sale to raise funds.
Oil rose above $43 a barrel to its highest level so far in 2016 against a backdrop of a weak dollar, signs of increased demand from China and lingering hopes that a meeting of oil producers will agree steps to tackle the global supply glut.
Top-flight shares plunged into the red after commodity falls weighed on heavyweight oil firms and miners.
London’s top flight index made modest gains after slumping into the red in the previous session.
London’s FTSE 100 Index struggled for direction, as oil and gas exploration firm BG Group announced it had steered the business back into the black.