European stocks through the roof as ‘Brexit’ odds wane

The only catalyst behind the surge in the European equities at the beginning of a new week this Monday remains the votes back in favour of the ‘Remain’ camp, as reflected by a number of Brexit polls conducted over the last weekend.

Further, the European markets tracked the upbeat sentiment seen in their Asian counterparts and leaped higher as risk-on remained in full swing amid weaker yen and rallying oil prices, with the Brent clawing back to $ 50 mark.

The banking sector stocks as well auto makers led the advance in the region’s indices, while gold miners emerged the main laggard on tumbling gold prices.

Germany's DAX 30 index jumps +3.09% to 9,929 points, while the UK’s FTSE rockets +2.59% to 6,177. Among the other indices, the French CAC 40 index advances +2.89% to 4,315 levels, while the pan-European Euro Stoxx 50 index leaps +3.14% to 2,932 points.

Looking ahead, a great amount of volatility is likely to persist in the run up to the June 23rd EU referendum and June 24th referendum outcome.