The FTSE 100 is ignoring Brexit fears right now

The FTSE 100 is popping after largely ignoring Brexit fears and recovering from trading weakness at the end of last week.

The index is up over 1.17% at 6019.90 as of 8.26 a.m. GMT.

However, the jump in the FTSE 100 could be to do with how badly sterling is doing.

Currently, sterling is taking a pounding after news that the Mayor of London Boris Johnson will campaign for Britain to leave the EU.

Sterling experienced the sharpest one day fall in around six months by trading down 1.4% against the US dollar so far today.

Basically, Johnson — who is a hugely popular politician in the UK — added to uncertainty over the country’s future in the bloc. One in three voters in the UK consider Johnson’s position as “important” in deciding which way to vote,according to a recent Evening Standard poll.

A drop in sterling means it becomes cheaper for companies to sells goods and services abroad.

Meanwhile, European markets are all looking at
flash PMI — meaning we’re getting an early estimate for growth in February.

Growth figures for Germany, France, and the Eurozone as a whole are rolling in between 8 a.m. GMT (3 a.m. ET) and 9 a.m. GMT (4 a.m. ET), with specific breakouts for service sector and manufacturing growth.

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