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Odds of Britain leaving EU drop after Obama warning.

M2 EQUITYBITES-April 26, 2016-Odds of Britain leaving EU drop after Obama warning

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Bookmakers have moved odds sharply towards Britain voting to remain in the European Union in the June referendum following a visit by US president Barack Obama, Reuters reported on Monday.

The shift in sentiment towards remaining in the EU was also reflected by an increase in the pound on Monday to a near six week high against the euro. Both moves followed a direct intervention by Obama in favour of Britain staying in, although those advocating leaving the EU looked to undermine his efforts and warned the "In" camp not to celebrate too early.

More forceful than expected after Obama's intervention, implied probability of a vote to remain in the 28-nation bloc increased to 74%, an increase of over 10 percentage points compared to a week previously, according to odds from bookmaker Betfair. The "Leave" campaign countered on Monday with figurehead and outgoing mayor of London Boris Johnson saying that Obama had "bullied" British voters and calling his warning on trade "ridiculous".

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUUK
Date:Apr 26, 2016
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