Futures contracts on the FTSE 100 Index rose 1.3% as of 7:10 a.m. in London.
European Union ambassadors gave the go-ahead to the bloc’s draft free-trade agreement with the U.K., paving the way for the deal to take effect on Jan. 1. The thumbs-up by EU member-country envoys sets the stage for formal approval by the 27-nation bloc’s governments on Tuesday and for a vote by the U.K. House of Commons on Dec. 30.
The pact should give rise to the “unwinding of the uncertainty discount” which has meant U.K. shares have been unloved since the 2016 referendum to leave the EU, Dan Nickols, head of U.K. small and midcap strategy at Jupiter Fund Management, wrote in a year-ahead outlook note prior to the agreement being reached.
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Dec 15 2020, 3:32 PM
December 14 2020, 12:02 AM
December 15 2020, 3:32 PM
(Bloomberg) The pound posted its biggest gain in almost two months and bonds plummeted after the U.K. and European Union agreed to continue negotiating, keeping hopes for a trade agreement alive.
(Bloomberg) The pound posted its biggest gain in almost two months and bonds plummeted after the U.K. and European Union agreed to continue negotiating, keeping hopes for a trade agreement alive.
Sterling climbed as much as 1.7%, leading gains among all currencies tracked by Bloomberg, to $1.3446 after U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen agreed to go the âextra mileâ and keep working on a post-Brexit accord. The EUâS chief negotiator Michel Barnier later told a private meeting of ambassadors that a trade deal with the U.K. could be completed as soon as this week.
Pound Jumps on Relief That a Brexit Trade Deal Is Still Possible msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.