Commerce Dominates Brexit Talks on Day One

The FTSE 100 got off to a strong start on Monday morning, as the Brexit discussions began. The early focus of the negotiations was on commerce, and whether or not ongoing single market access could still be an option.

UNDEFINED - Monday, June 19, 2017

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Marks & Spencer Group

European markets also made some gains, with optimism following the outcome of the French election. A terrorist attack on a Mosque in North London did not affect the mood of the markets. It appears now that the markets are immune to terrorist attacks unless those attacks have an impact on government spending or international relations.

The focus of the Brexit negotiations right now is on the option of a soft Brexit route. German Foreign Minister Gabriel suggests that this could be an option, with some free movement of labour, and access to the single market. Some opponents of EU membership are questioning whether that is even a Brexit, after the concessions that the UK would need to make to keep access to the single market. It is important to recognise, however, that the government did not provide a clear structure for what they would be looking for with the Brexit when the referendum took plce.

The strongest performers in the index so far have been Convatech - up 1.8 percent, Marks and Spencer and Anglo American - who are both up by 1.6 percent. In the FTSE 250, Ocado is up by 7.6 percent, following speculation that the grocery company may be a bid target soon.


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