Investors are betting on fixed as polling day trade lifted sterling and shares

Investors have put their money on a remain vote in the EU referendum, as polling day trading lifted the pound to a new high for 2016 and the FTSE 100 rose to a two-month peak.

As the excitement of the last trading session market continues, there is a fresh warning that investors are setting themselves up for a big loss in terms Brexit when the voting results became clear on Friday.

In morning trade on Thursday, the pound penetrating $ 1.49 against the dollar for the first time since December, before easing back in the afternoon. The FTSE 100 index of leading shares added a solid 1.2%, or 77 points, to close at 6338, its highest since late April.

"Obviously the main issue now is whether the currency market increased expectations that the status quo will prevail well placed," said Chris Saint, senior analyst at financial firm Hargreaves Lansdown.


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"Most of the results of the local counting area is expected by early Friday morning with the official results anticipated by breakfast time. Drama swing the expected exchange rate regardless of the outcome, with a sharp decline in the value of the pound possible in the event of Brexit."

Shares and the pound was higher than the open and got an extra fillip in morning trading after the publication of an Ipsos Mori poll for the Evening Standard newspaper showed a four-point to fixed.

The poll, conducted before the voting began, sterling helped lift more than 1.5% to $ 1.4948 against the dollar. In later trading comes from highs but still up 0.6% on the day at $ 1.4799.

"Although we all know that polls can be garbage, the market seems to be quite happy that keep the camp had done enough to win," said Kathleen Brooks, research director at the spread-betting firm City Index.

FTSE and pound has been hit by the polls close during the campaign but in the recent market sentiment has swung week showed growing confidence in the voting to remain in the EU. FTSE has rallied every day this week and by Thursday's closing up 5.3% for the week so far.

The FTSE advantages are reflected in other European markets, with the leading share index in Germany and France both almost 2%. On Wall Street, the Dow Jones industrial average rose 1% at the close of London.

With TPS is open 7: 00-22: 00, there are strict rules for broadcasting it means they can not report the details of the campaign until the voting ends. Relative calm after months of daily news for the referendum created a tense atmosphere in the City trading floor, said Joshua Mahony, an analyst at online trading firm IG.

"In the midst of broadcasting restrictions, there is an eerie feeling in the city, with a clearly nervous energy as we awaited the fate of the nation," he said.

"Whatever the result, volatility tends to be the name of the game and rumor personal poll of hedge funds means that there may be some substantial changes in speculative positions are placed into a relatively illiquid market."