Brexit Reprieve Boosts European Shares

www.oann.com | 3/21/2019 | Staff
urbanagirl3 (Posted by) Level 3
(Reuters) – European stock markets rose on Friday, relieved at the European Union’s agreement on a two-week reprieve that precludes Britain crashing out of the bloc without a deal next week.

The communique from Thursday’s meeting of EU leaders also kept the door open to a longer extension if Prime Minister Theresa May, as expected, fails at the third attempt to gain parliament’s approval for her negotiated exit deal.

Days - Losses - STOXX - Index - Percent

After two days of losses, the pan-European STOXX 600 index rose 0.3 percent, led by 0.6 percent gains for Germany’s DAX and a 0.2 percent rise in French stocks.

As has often been the case on Brexit, London’s blue chip FTSE 100, packed with companies dependent on international revenues which tend to lose when sterling rises, dipped 0.2 percent.

Pound - Week - Brexit - Twists - Turns

The pound, fluctuating heavily in the past week on Brexit twists and turns, was up 0.3 percent in early trade.

Shares in Deutsche Bank, up earlier this week on the prospect of a merger with Commerzbank, rose more than 2 percent after disclosures showed its board members received their first bonuses in four years.

Sector - Gains

The retail sector led gains with...
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