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Markets have priced in 'half' the move of Brexit vote, BlackRock says

Reuters

By David Randall

NEW YORK (Reuters) - Global markets have priced in "half the move” should British voters ultimately decide to approve a June 23 referendum and leave the European Union, said Nigel Bolton, co-head of BlackRock's equity funds business, at an investor day event in New York.

Bolton said that he has positioned his portfolios towards balanced, low-risk assets because the vote is "too close to call."

The Euro Stoxx 50, an index of blue chip European shares, has dropped 7 percent over the last 5 days after polls showed that more voters plan on approving the referendum than originally expected.

(Reporting by David Randall; Editing by Chizu Nomiyama)