Hedging Costs for U.K. Shares Hit Record as Britons Vote: Chart

The cost of bearish FTSE 100 Index options is heading for its highest-ever level relative to bullish contracts, according to data compiled by Bloomberg going back to 2007. While the pound weakening and rebound in miners have helped the nation’s shares become the best performers among major western-European markets this year, investors have been paying up to hedge against losses in the run-up to Thursday’s referendum on European Union membership.

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