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Britain’s FTSE 100 Defies Brexit Blues to Enter Bull Territory

Bloomberg business news

Will Markets Settle Down If May Becomes U.K. PM?

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A third day of gains helped push the U.K.’s FTSE 100 Index into bull-market territory.

After recovering from its post-Brexit plunge in just four days, the gauge of U.K. megacaps continued its rally, and is now up 21 percent from its February low. A dramatic plunge in the pound has made the gauge’s multinational companies more attractive since the country’s vote to leave the European Union. Analysts have joined investors and strategists in taking note, boosting profit-growth estimates for FTSE 100 members by about 4.5 percent in just over a week, the biggest such upgrade in more than a decade.