U.K. stocks slipped back Tuesday, pulling back from a sharp rally the day before, as uncertainty about the Brexit referendum continued to preoccupy investors. The FTSE 100 shed 0.5% to 6,169.94. All sectors were losing ground, led by the basic materials group. The blue-chip index on Monday jumped 3%, for the largest one-day percentage gain since mid-February. The move came after weekend polls showed a resurgence in support for the U.K. staying in the European Union, with only a couple of days to go until the Brexit referendum on Thursday. More opinion polls were released late Monday. An ORB poll commissioned by the Telegraph newspaper showed 53% of respondents backing membership in the EU, compared with 46% who want to cut ties. But a survey by YouGov for TheTimes newspaper showed the "leave" camp with a two point lead, at 44% to 42%. "While momentum looks to have shifted towards ‘Remain' in the final days, the outcome is still too close to call," said Davy Research in a Tuesday note. More opinion polls are expected to be released ahead of the vote. Sterling: The pound was buying $1.4736, rising from $1.4692 late Monday in New York. On Monday, sterling logged its largest one-day percentage gain since 2009 on the back of the "remain"-leaning Brexit polls. Billionaire investor George Soros, in a guest column for the Guardian newspaper published Tuesday, said he expects the pound to fall by at least 15% in the event of a Brexit. An U.K.-EU breakup would do more damage to the currency and the British economy than the aftermath of his 1992 bet against Britain's currency, he said. U.K. voters head to the polls to decide if they should leave the EU. Are they voting with their heads or their hearts? MarketWatch asks Chicago Booth Business School Professor Richard Thaler, a pioneer of behavioral economics. Miners in red: In Tuesday's risk-off session, mining shares were in the red. BHP Billiton PLC was off 1.6%, and Rio Tinto PLC gave up 1.2%. Rio Tinto said Tuesday its incoming chief executive has restructured the company's management team. The changes will see the current head of iron ore operations leave his post. Platinum and copper producer Anglo American PLC was down 2.9%. Anglo American is the majority owner of Anglo American Platinum Ltd., which on Tuesday warned that first-half net earnings will likely drop at least 20% compared with the year-earlier period. Movers: Bank shares were mixed. HSBC PLC lost 0.6%, while Barclays PLC gained 0.6%. Meanwhile, Whitbread PLC shares drove up 3.6% after the owner of the Premier Inn and the Costa coffee chain posted growth in first-quarter sales. The mid-cap FTSE 250 index was off 0.3% at 16,908.49. Source: MarketWatch
