Shares rallied and the pound surged to its highest level since 2018 as hopes grew that the UK could be on the cusp of striking a Brexit deal.
The City was buzzing after EU Commission president Ursula von der Leyen said there 'is a path to agreement now' even if it 'may be very narrow', fuelling anticipation that an agreement on new trade terms is imminent.
The two sides have 'found a way forward on most issues', she said, though fisheries and competition rules are still sticking points. Downing Street said last night that a No Deal is still the most 'likely outcome' when the transition period ends on December 31.