Money (13)

The FTSE 100 and value of the sterling rose strongly on Monday morning after EU referendum polls showed a resurgence in the 'Remain' vote.

Has the EU referendum impacted your hiring plans? Complete this two minute survey to have your say.

The FTSE 100 was up 2% as the index opened and the pound rose 1.7% $1.46060. against the dollar, bouncing back from last week's losses. Reuters said sterling is on course for its largest single day rise since October 2009.

The UK's main financial market lost around £100 billion of its value and sterling tumbled last week after referendum polls put the 'Leave' vote ahead.

Betting firm Betfair said there was a 72% chance of the UK voting to stay in the European Union following the weekend's polls. Last week, that figure was at just 59%.

Adding further evidence to the economic and financial arguments behind the referendum debate, today's gains on the FTSE 100 have wiped out the big losses last week. It means likelihood of a Brexit caused the index to lose £100bn, and likelihood of a 'Remain' caused the index to gain £100bn.

Mike van Dulken, analyst at Accendo Markets, said: "A positive European open comes as weekend Brexit polls (and bookies’ odds) suggest the Remain campaign regaining some lost ground and in some cases re-taken the lead ahead of Thursday’s UK referendum vote on EU membership.

"A higher chance of the UK voting to stay is a relief for markets (equities and the pound sterling) that had been preparing themselves for a Leave vote and the uncertainty it could inflict from both a financial, economic and political standpoint."

Last week, Seamus Smyth, head of litigation and partner at Carter Lemon Camerons, warned a "Brexit will damage the pound for years".

He said: "Only one thing has emerged from the unseemly Brexit brawl: investors are worried about uncertainty. Sterling is already suffering from that uncertainty - even before the referendum.

"After a Brexit vote, there would be years of further uncertainty, while the unpredictable effects of the first major departure from the EU were worked through."

Has the EU referendum impacted your hiring plans? Complete this two minute survey to have your say.