Polls open in Britain’s historic EU referendum

Polling stations have now opened across the United Kingdom for a referendum that could see the country part ways with the European Union.

The question they’ve been pondering for months: Should the United Kingdom remain a member of the European Union or leave the European Union?

Downpours and flooding swamped parts of London and southeastern Britain.

Polling stations remain open until 2200 (2100 GMT) and initial results could start to give an indication of the overall outcome by around 0400 (0300 GMT) Friday. A victory for “out” could unleash turmoil on financial markets.

The FTSE 100 gained 1.5 percent in early trading to 6,355.64, buoyed by sentiment that the uncertainty caused by a potential Brexit may be receding.

A final poll by Opinium put the Leave vote on 45 per cent and Remain on 44 per cent, with 9 per cent undecided, as the online survey of more than 3000 adults produced a “statistical dead heat”.

Among them was Dutchman Marc Bolland, the former CEO of Britain’s iconic Marks & Spencer chain of department stores.

“I am doing this as an individual because I think it is important”, he told NBC News. “This is a decision that will affect us for the next 50 years”.

This is because there is thought to be too great a margin of error in a contest that is predicted to be very close.

A man shelters from the rain as he arrives at a polling station in London on Thursday.

Bookies clearly saw momentum for the “remain” camp.

“I feel better now it is over”, said Jojo Lands, a nurse aged in her 40s.

“There has been lots of confusing information and anecdotes and lies, which I don’t appreciate”, said Chet Patel, a 44-year-old telecoms worker in London who wants to stay in. David Cameron argues that Brexit would damage the economy and Britain’s security. However, it was not clear if the tragedy would affect the result.

The campaign has drawn support with appeals to nationalism, especially among the English, claiming that outside of Europe, Britain would reclaim a sense of sovereignty and take back control of its borders.

Polls closed at 10 p.m. (5 p.m. ET), with the first results expected about midnight (7 p.m. ET).

Yet far more of the 8 per cent who were “don’t knows” said they would probably end up picking “Remain” – meaning it gains the lead in the final result, 51 per cent by 49 per cent.

“It’s all about turnout and those soft “remainers” staying at home”, U.K. Independence Party leader Nigel Farage said outside his home after collecting the newspapers.

“Markets seem to be taking a very big bet that the bookmakers are right – that there is a minimal chance of a Brexit”, said Michael Ingram, Market Strategist for BGC Brokers, L.P.

Analysts were divided about what a high or low turnout would mean for either side.

According to MarketWatch, an Ipsos Mori poll conducted for the Evening Standard showed 52 per cent of the respondents in the “Remain” camp compared with 48 per cent supporting the “Leave” camp.

John Curtice, professor of politics at Stratchclyde University and one of the country’s foremost polling experts, told The Independent: “It’s around 50-50”.