Brexit

Pound gains on Brexit hopes, Asia stocks rise

Markets Briefing

A revised Brexit deal pushed sterling above $1.32 on Tuesday on hopes that new legal assurances will help Theresa May secure the support needed for a crucial vote .

The pound was 0.5 per cent stronger at $1.3217, building on the previous session’s gains sparked by Mrs May’s hastily-arranged meeting with European Commission president Jean-Claude Juncker.

Mrs May hopes to win over 100 Tory Eurosceptics who opposed her deal in January with assurances that Britain will not be trapped in a customs union. She must also win support from MPs from Northern Ireland’s Democratic Unionist party for the vote later on Tuesday.

Strong gains on Wall Street overnight and the Brexit news helped support Asia-Pacific equities. Japan’s Topix was the best performer in the region, up 1.6 per cent while both the Hang Seng index and China’s CSI 300 rose 1 per cent.

Snapshot

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Source

neallesh@yahoo.co.uk

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