UK equities traded higher through the day, supported by miners and materials companies as copper prices hit a four-week high driven by a weaker greenback. Anglo American was the biggest beneficiary of the trend as it traded 9% higher. The same trend helped prop up European indices, as Asia trade was also relatively calm ahead of Fed Chair Yellen’s speech in Philidelphia due to commence at 5.30pm BST. Brent oil also found support in the market as it traded about $50.50/bbl, propped up by the continuing unrest in Nigeria and the weakened dollar.

Support for a Brexit gained more traction, according to a recent Yougov poll, commissioned by ITV, a result that was confirmed in a separate Telegraph polling of its readership claiming a 69% majority for ‘out’. This prompted a slump in Sterling, even against a weakened dollar following a poor US jobs report on Friday. Trading on betting exchanges has been largely unchanged over the last few weeks, as an ‘in’ vote is priced with an implied probability of 70%, however spread-betting firm IG Group reported that clients are now staking more money on Britain voting to leave the EU than remaining for the first time since the market was created.

Indivior was the biggest loser, dropping over 12% after rallying 36% on Friday. It seems the rally was overdone on Friday and market participants have revised and consolidated positions. The rally on Friday was prompted by a favourable ruling from the District Court of Delaware on a patent litigation matter.

At the close European indices were up with the FTSE 100 +1.03%, with the CAC 40 +0.04%, and the DAX 30 +0.18%.