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RSS FeedsPound jumps over $1.25 and bank shares soar on Brexit deal hopes - business live
(The Guardian Business News)

 
 

11 october 2019 12:14:56

 
Pound jumps over $1.25 and bank shares soar on Brexit deal hopes - business live
(The Guardian Business News)
 


Rolling coverage of the latest economic and financial news, as sterling climbs to a two-week high and shares rallyBanks and housebuilders surge; RBS up 7%Latest: Sterling hits $1.25 as Tusk reports `promising signs´Pound boosted by Johnson-Varadkar meetingIntroduction: Hope of trade deal and Brexit dealBanks and housebuilders are surging 10.53am BST Nish Parekh, managing director of market risk solutions at Silicon Valley Bank, reckons the pound will keep rallying if we hear more optimism from Brussels today.UK Brexit secretary Stephen Barclay and EU chief Brexit negotiator Michel Barnier could give a press conference shortly, after a long meeting this morning. `Brexit emotions are running high as GBP whipsawed while Barnier and Barclay discussed the details of a potential deal. Cable broke $1.2500 as Tusk sees `positive signals´ on an agreement being reached.Yesterday´s price action demonstrated how bearish the market actually was. Expect an extension to the sterling rally if today´s news continues the bullish trend.`The Barnier - Barclay breakfast ends after 2 hours and 20 minutes.. Big breakfast, big day. Sensible. 10.28am BST Shares in UK banks and housebuilders are surging even higher, gaining up to 7% this morning.Traders are rushing to buy equities after Donald Tusk told reporters in Nicosia that `We have received optimistic messages that there could be a deal.` Continue reading...


 
62 viewsCategory: Business
 
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