The FTSE 100 Index and the Euro Stoxx 50 Index tend to move in lockstep, but their correlation has slipped since the referendum on European Union membership. The pound weakness has boosted the U.K. gauge by more than 7.5 percent since then, while the European measure has fallen 1.7 percent. That’s pushed the 30-day correlation between the two to the lowest in more than a year.

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