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U.S. Stocks Recover, Pound Erases Drop as Odds on Brexit Decline

  • Bookmaker odds on U.K. leaving EU drop after lawmaker’s death
  • Oil sinks with metals amid concerns over supply, world growth
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U.S. equities recovered from a five-day retreat, while the pound erased losses after the killing of a British lawmaker coincided with diminished odds the U.K. will vote to leave the European Union.

The S&P 500 Index wiped out all of a 1 percent decline, while futures on the Euro Stoxx 50 gauge advanced amid a steady, day-long easing in bookmakers’ odds on the U.K. exiting. The pound ended little changed after sliding as much as 1.3 percent. Campaigning for the referendum was suspended by both sides Thursday after Labour Party lawmaker Jo Cox was murdered as she met constituents in her district. Treasuries gave up most of their gains, while oil tumbled to a one-month low amid a selloff in industrial and precious metals.