LONDON MARKETS: British Pound Turns Lower In Volatile Trade On Concerns Parliament Will Spurn Johnson's Brexit Pact
October 17 2019 - 8:51AM
Dow Jones News
By Steve Goldstein, MarketWatch
U.K. parliament vote due Saturday
The British pound surged but then turned lower on concern Boris
Johnson won't have the votes to pass a Brexit deal he agreed with
the European Union.
The pound rose as high as $1.2987 before turning lower.
Stephen Innes, market strategist at AXI Trader, said the
rejection by the DUP may also lead to hard-line Conservatives in
Johnson's own party rejecting the deal. "Suggesting, that in a
minority government, 18 is a lot of votes to pick up and could be a
bridge too far, especially amid speculation that most of those
voters are pushing for a second referendum," he said.
Related:Brexit pact faces steep odds in the U.K. Parliament --
and Johnson might not mind failure
(http://www.marketwatch.com/story/brexit-pact-faces-steep-odds-in-the-uk-parliament-and-johnson-might-not-mind-failure-2019-10-17)
Gains for U.K.-listed stocks were more tempered, perhaps
reflecting the short covering that already happened last week.
U.K. banks Barclays (BARC.LN) , the Royal Bank of Scotland
(RBS.LN) and Lloyds Banking Group (LLOY.LN) each rose, but
registered gains of less than 2%.
The FTSE 100 gained 0.85% to 7228.16.
(END) Dow Jones Newswires
October 17, 2019 08:36 ET (12:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Natwest (LSE:NWG)
Historical Stock Chart
From Apr 2024 to May 2024
Natwest (LSE:NWG)
Historical Stock Chart
From May 2023 to May 2024