FTSE jumps but sterling hit as Brexit fears leap

Industry reacts to announcement

The FTSE 100 has climbed nearly 1.5% in early trading in its first session since the announcement on Friday that Britons will vote on whether to stay in the European Union on 23 June, but sterling has taken a hit.

Prime Minister David Cameron, who promised a referendum if the Conservative Party came to power in the May 2015 general election, described the historic vote as one of the biggest decisions "in our lifetimes". He had until the end of 2017 to hold the referendum, but it was widely speculated he would announce an earlier date to avoid lasting uncertainty. Top ten Brexit articles: What does the industry expect? The announcement followed a two-day summit in Brussels where Cameron was trying to carve out a better deal for the UK if it is to remain in the EU. He said he would be campai...