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Midday Market Update

Stocks Surge Ahead as Poll Results Lessen Brexit Fears


U.S. Market
U.S. stocks rose sharply Monday as the results of polls reflected a higher likelihood that the United Kingdom would remain a member of the European Union.  

At midday the Dow and S&P 500 were each up around 1.0%, while the Nasdaq was up 1.3%.

Stocks on the Move
Shares of  Marathon Oil (MRO) were up 11% after the company said that it would buy PayRock Energy Holdings LLC for $888 million

Foreign Markets
European stocks were higher today as Brexit fears eased. The FTSE 100, Paris CAC, and Germany's DAX were up 3.0%, 3.5%, and 3.4%, respectively.

Asian markets were also higher. The Shanghai Composite rose 0.1%, the Nikkei 225 gained 2.3%, while the Hang Seng was 1.7% higher. 

Karen Wallace does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.