LONDON (Reuters) - European shares rallied to more than five-month highs on Thursday, boosted by fading risks of a no-deal Brexit and overcoming fears about a possible delay in trade talks between the United States and China. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 12, 2019. REUTERS/Staff A pan-European equity index rose as high as 0.8 percent, its highest level since October after Britain’s parliament vote on Wednesday removed a key source of uncertainty by rejecting a no-deal Brexit. European stocks had earlier stumbled after Bloomberg reported that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to end their trade war was more likely to take place in April at the earliest, later than expected. The lingering trade spat between the two superpowers has been a cloud hanging over markets and there had been hopes Trump and Xi would hold a summit aimed at finding a breakthrough … [Read more...] about European shares surge after UK parliament votes down no-deal Brexit
LONDON (Reuters) - European shares rallied to five-month highs on Thursday after Britain’s parliament removed a key source of uncertainty by rejecting a no-deal Brexit though somber economic data and trade fears kept a lid on gains. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville A pan-European equity index jumped 0.7 percent to the highest since October after Britain’s parliament vote on Wednesday. The vote paves the way for a delay to Brexit beyond the current March 29 deadline which could lead to an EU divorce deal being agreed or even another referendum. British stocks also rose 0.5 percent. Goldman Sachs analysts told clients the probability of a no-deal Brexit had fallen to 5 percent from 10 percent after Wednesday vote. Despite the vote having no legal force, it carries considerable political force. However, data from China, signaling further weakness in the … [Read more...] about European, UK shares rally after UK parliament votes down no-deal…
Date created : 26/02/2019 - 16:05Latest update : 26/02/2019 - 16:11 Prime Minister Theresa May promised on Tuesday to allow parliament to delay Brexit by up to three months so that Britain would not crash out of the European Union without a deal on the scheduled departure date of March 29. The dramatic reversal in May's steadfast Brexit strategy came after threats of mass resignations from her own ministers and calls for a second referendum on Britain's EU membership from the main opposition Labour Party.It saw the pound rally to its highest level since May 2017 against the euro -- and since October 12 against the dollar -- as investor fears of imminent trade gridlock and financial market mayhem eased.The beleaguered British leader told parliament she would offer MPs the chance to vote on March 14 on a "short, limited" extension of the March 29 deadline if her own divorce proposals fail to win lawmakers' support by March 12. FRANCE 24's Armen Georgian ‘May is giving the … [Read more...] about May to let parliament vote on delaying Brexit in case of no deal
The British parliament voted in favour of the government's proposed immigration bill, late on January 28. The Immigration and Social Security Co-ordination (EU Withdrawal) Bill is aimed at adapting the UK's current immigration policy to ensure it has an independent immigration policy after Brexit. MPs were divided at the first reading but the bill passed with 297 votes in favour to 234 against at second reading. UK Immigration Minister Caroline Nokes said in the Commons that immigration has made a "great contribution" to the British economy and society and added that the government would be speaking to a "range of businesses" on new immigration rules over the next year. "We will continue to listen to businesses large and small", she said. Earlier on January 28, the UK Home Office said in a statement it will seek to end free movement as soon as possible if Britain leaves the EU with no deal. For a transitional period, EU citizens and their family (including Swiss citizens) will be … [Read more...] about UK parliament votes in favour of post-Brexit immigration bill
Theresa May is under pressure to come up with an alternative Brexit deal that will win support from MPs across the political spectrum, following her humiliating defeat in the House of Commons on Tuesday 15 January. Brexiteer MPs have called on the Prime Minister to simply walk away from the negotiations and embrace a 'no deal' scenario, but the she is determined to somehow push through the Withdrawal Agreement. Meanwhile, the European Union says it is now solely up to Mrs May and MPs to agree on a counter-proposal to the Brexit deal they rejected, with negotiations only reopening once this is achieved. What is in Theresa May's Brexit Plan B? In a word: nothing. While the Prime Minister was forced to return to Parliament on Monday 21 to explain what she was going to do next, she made clear that Plan B is in fact just Plan A. She intends to ask Brussels for further concessions on the backstop, potentially with Parliament having voted in favour of a time limit … [Read more...] about Brexit deal: What is Theresa May’s Plan B and when will Parliament vote on it?