Credit Suisse would cut FTSE target by 6 percent if Brexit occurs

by Jonathan Adams

Credit Suisse would cut its year-end forecasts for Britain’s benchmark FTSE 100 .FTSE equity index by 6 percent if Britain voted to leave the European Union this week.

The Swiss bank’s equity strategists said they would cut their year-end target for the FTSE down to 6,200 points from 6,600 if a Brexit occurred – which will be a reduction of around 6 percent.

The FTSE 100 closed up 0.4 percent at 6,226.55 points on Tuesday.

The strategists said they would cut their U.S. S&P 500 .SPX year-end target to 2,000 points from 2,150, and their target on the euro zone’s Euro Stoxx 50 .STOXX50E to 2,950 points from 3,350.

Betting odds show a greater probability that Britain will choose to remain in the EU rather than leave, which has helped markets recover this week. Although opinion polls show the two camps are roughly neck-and-neck.

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