FTSE Struggles After Brexit Talk Difficulties

The UK’s leading share index struggled to keep pace with the gains in Europe, as Britain and the EU have continued to find it hard to strike a deal on the initial Brexit divorce package. The UK’s leading index did make some gains, but not enough to keep pace with the rest of the wider markets.

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shareprices.com - Tuesday, December 05, 2017

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At the close of trading the blue-chip index was up by 0.55 percent, to 7,340.91 points - which was a modest performance in comparison to the gains seen in France and Germany - the French CAC 40 gained 1.3 percent, while the German DAX gained 1.5 percent.

The news that there was no significant progress towards a deal caused the Sterling to give up most of its gains, and the FTSE 100 did not have much going for it either. Theresa May has failed to reach an agreement with the EU negotatiors, in spite of reports earlier in the day that there had been a breakthrough agreement which would have kept Northern Ireland aligned with the EU.

The FTSE 100 had been weighed upon by the strength of the Sterling as investors were optimistic over the progress in Brexit talks, but the index struggled as it became clear that progress was still slow. Many analysts now feel that the UK will continue to lag behind the rest of Europe, as it is unlikely that the situation with regards to Brexit is going to change overnight. Financials across Europe gained after the US took steps to slash corporate tax rates.

 

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