LONDON MARKETS: British Pound Steady Ahead Of Vote On Brexit Deal Called 'too Close To Call'

Date : 10/18/2019 @ 3:55PM
Source : Dow Jones News
Stock : Intercontinental Hotels Group Plc (IHG)
Quote : 4671.5  0.0 (0.00%) @ 12:00AM

LONDON MARKETS: British Pound Steady Ahead Of Vote On Brexit Deal Called 'too Close To Call'

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By Steve Goldstein, MarketWatch

Brexit may be delayed again if vote fails to pass

The British pound was nearly steady Friday ahead of Parliament's knife-edge's vote on the Brexit deal agreed by U.K. Prime Minister Boris Johnson and the European Union.

The pound traded hands at $1.2880, versus $1.2890 late Thursday.

Analysts at Citi said the vote, scheduled for Saturday, was too close to call. "Compared to the 286 MPs who voted for a deal in March, we think around 313 are lining up to vote for it this time around, 5 short of what we think would be a majority but well within the range of further plausible changes in support," the analysts said in a note to clients.

Also read:Johnson returns to London to drum up support for Brexit deal (http://www.marketwatch.com/story/johnson-returns-to-london-to-drum-up-support-for-brexit-deal-2019-10-18)

Also read:Hard-line U.K. conservative says Johnson pact could still result in no-deal EU exit (http://www.marketwatch.com/story/hard-line-uk-conservative-says-johnson-pact-could-still-result-in-no-deal-eu-exit-2019-10-18)

The FTSE 100 closed 0.44% lower to 7150.67, with dollar earners such as HSBC (HSBA.LN) , Royal Dutch Shell (RDSA.LN) and Diageo (DGE.LN) losing ground. The Royal Bank of Scotland (RBS.LN) was the top riser, gaining 2.6%.

Besides Brexit news, InterContinental Hotels (IHG.LN) fell 4.6% as the hotel chain said comparable revenue per available room fell 0.8% in the third quarter. Tougher trading conditions in the U.S. and China, and ongoing unrest in the Hong Kong, weighed on the company.

 

(END) Dow Jones Newswires

October 18, 2019 11:40 ET (15:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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