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Stocks, Pound Rally for First Time Since Brexit as Dollar Slips

  • Energy shares drive rebound as oil leads commodity advance
  • Most Asian index futures signal gains amid debt retreat
Bloomberg business news

Brexit Fallout: Are Markets Starting to Stabilize?

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Equities, the pound and commodity prices all climbed for the first time since Britain’s shock vote to leave the European Union amid speculation policy makers will take steps to limit any economic fallout.

A gauge of global shares extended gains late in the U.S. day for the biggest rally in a week, while the S&P 500 Index has its best day since March amid a rebound in energy stocks. Oil and industrial metals drove the Bloomberg Commodity Index up the most in seven weeks, with the dollar snapping a two-day climb as futures indicate the next move in U.S. interest rates is more likely to be a cut than an increase. The world’s safest government bonds retreated with gold as the angst over the implications of Brexit eased.