Financials lift FTSE as blue chips rally for second day

Pound stabilises

The FTSE 100 has rallied for the second day in a row after the post-Brexit sell-off, gaining almost 2% in early trading, while movements in sterling have stabilised.

As investors begin to digest the Brexit outcome of last week's EU referendum and take advantage of opportunities after the earlier sell-off, the UK's blue-chip index continues to rebound today by 1.7% to 6,243 points in morning trading. Financials were among the top five risers including Prudential, Old Mutual, Aviva and Barclays. Prudential was leading the index, gaining 5.5% to trade at £12.50. The FTSE 250, which was badly hit in the post-Brexit sell-off, is up 1.46% to 15,729 led by Shawbrook Group soaring 23%. European equity markets have also risen today, with the German DAX up ...