Global politics likely to continue impacting markets into summer 2016

It is easy to forget it took three attempts to finally get Britain into the EU in 1973, and none of them was preceded by a referendum, writes James Horniman, partner at James Hambro & Partners.

The 1975 poll was arguably unnecessary - the result of a Labour election manifesto pledge to renegotiate the then Prime Minister Edward Heath's accession terms, secure a better deal and test it with the plebiscite.   It all sounds vaguely familiar, though the outcome is much closer to call this time round - which has contributed towards sterling's weakest quarter in over seven years. Elsewhere, the US election process gathers momentum; Brazilian President Dilma Rousseff is fighting for political survival; Spain has been in political limbo since inconclusive elections in December 2015 ...