Opening Bell: Markets recover Brexit losses, Irish consumer sentiment rises, replacing Cameron

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The UK's FTSE 100 surged yesterday, to recover all of losses it accrued during the Brexit sell-off after its best single day of gains in 5 years.

The pound has also strengthened against the euro and dollar - the FTSE 100 experienced a high volume of last minute trades to close up 3.6% at 6,360. The FTSE is expected to rise again this morning.

The ISEQ gained 142 points or 2.61% to close at 5,588.

Analysts believe that this is a correction after excessive selling in the wake of the vote - or an indication that the market is betting on central banks rolling out new stimulus measures.

Bank of England Governor Mark Carney is due to give a speech later today.


In the weeks leading up to the UK's EU referendum consumer sentiment in Irish households was "more upbeat about the outlook for the economy," according to the "Economic Pulse" survey published by Bank of Ireland.

Sentiment had improved on the previous month, but it is expected to dip following the uncertainty created by the UK's decision to go. The index rose to 101.5 - up 0.2 points on May.

"The overall business pulse remains at a high level. The consumer pulse is up on last month and more than one in three households surveyed think that now is a good time to purchase big ticket items such as furniture and electrical goods," said the bank's chief economist, Dr Loretta O’Sullivan.


Theresa May and Boris Johnson will enter the race to become the next British prime minister later.

The two Tory heavyweights are expected to say they've got the ability to unite the party after the departure of David Cameron.

Meanwhile, the Labour leader Jeremy Corbyn appears to be holding onto his job, for now.

A statement from 10 of the party's general secretaries says he should only be challenged by the proper democratic procedures.

80% of Labour members said they had no confidence in Mr Corbyn after the Brexit result.


Drivers at Dublin Bus are before the Labour today in a bid to get pay parity with Luas drivers.

The National Bus and Rail Workers Union and SIPTU are calling on the body to implement bay increases for the capital's bus drivers.

They say the recent dispute at Transdev has brought to light the difference in the wages of Luas and Bus drivers.