European Stocks Rise With Partial Recovery Of Sterling

European stock markets rebounded from yesterday's losses on Friday, expecting further developments regarding the London-Brussels Brexit project. The pound returned to the Green Zone after falling on Thursday amid resignations in the British government over the controversial deal. 

At a news conference yesterday, Mai confirmed that she plans to "see" the deal and rejected the possibility of holding another referendum at Brexit. At the same time, eurozone inflation data is due later in the day.

May: There is no obligation to freely move across the Irish border

UK Prime Minister Teresa Mae told LBC on Friday that the coup on the Irish border as part of Brexit from the EU does not force the country to keep people free. She added that "everything in the deal" aims to end the free movement of people on January 1, 2021, the day after the end of the transitional period.

On the vacant post of Brexit secretary, May said she had not found a substitute for the Daeminink RAP, but said she would do so in the coming days. Mai declined to give details of her conversation yesterday with Michael Goff, who predicted he would become the new secretary of Brexit.

Asked whether the Northern Democratic Party of Northern Ireland would cut its support for the minority government over Brexit from the EU, May said it was still dependent on the party's support but hoped to persuade its deputies to back its agreement in parliament.

European Stocks Open

  • In London, the FTSE 100 rose 0.72% at the start of the session. Group 3i led its gains, adding 2.66%.
  • The German DAX rose 0.64%. Lufthansa and RWE were up 1.94% and 1.84% respectively.
  • The CAC 40 index rose 0.84%
  • While the Euro Stoxx 50 rose 0.67% shortly after the start of trading.


Currency Trading

  • The euro rose 0.26% against the dollar, reaching $ 1.13630 at 9:21 am
  • Sterling jumped 0.40% against the greenback, buying $ 1.2832 at the same time.

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