European stocks rally as Brexit fears ease

A renewed risk-on wave hit the European markets on Friday, mainly driven by increased expectations of no Brexit after Britain’s campaigning for the referendum halted since Thursday.

Moreover, broad based US dollar weakness underpinned oil and base metals prices’ rebound, which helped lift the energy and mining stocks on the region’s indices. Markets also cheered widening current account surplus data from the 19-nation bloc released earlier today.

The euro zone's current account surplus widened to EUR36.2 billion in April, compared with a revised EUR26.3 billion in the previous month, according to the ECB's report.

Germany's DAX 30 index jumps +1.20% to 9,663 points, while the UK’s FTSE rises +1.10% to 6,017. Among the other indices, the French CAC 40 index advances +1.26% to 4,206 levels, while the pan-European Euro Stoxx 50 index bounces +1.29% to 2,861 points.