'We could likely expect a relief rally for equities'
World stock markets rose on Tuesday after British Prime Minister Theresa May secured an improved offer from the European Union, which might be enough to win the support of lawmakers in the critical Parliamentary vote tonight.
Under the new deal, the UK will have some authority to walk away if the EU doesn't do enough to replace the 'Irish backstop,' a temporary arrangement designed to prevent a hard Irish border, with a full trade deal in the future. Sterling climbed 1% to 1.32 against the US dollar on the news. The limited gains"really betray the doubts that remain," said Neil Wilson, the chief market analyst for Markets.com."If Theresa May gets her deal through we could likely expect a relief rally for equities more broadly."
"The pound currently trades in neutral ground ahead of the key vote tonight suggesting that the outcome is anyone's bet," said Simon Harvey, market analyst at Monex Europe.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JP Morgan's Tusa says his $6 GE target 'looks generous' nowGeneral Electric shares are far overvalued given the pressures facing the company over the next two years, J.P. Morgan analyst Stephen Tusa said.
Read more »
JP Morgan's Tusa says his $6 GE target 'looks generous' now, shares drop 6%General Electric shares are far overvalued given the pressures facing the company over the next two years, J.P. Morgan analyst Stephen Tusa said.
Read more »
Medtronic board approves $6 billion more in stock buybacks
Read more »
BHP buys stake in Canadian firm that extracts emissions from the airThe world's biggest coking coal producer BHP has bought a $6 million equity...
Read more »
Japan's Mizuho slashes profit outlook, hit by $6 billion restructuring costsJapan's Mizuho Financial Group slashed its full-year profit outlook by 86 p...
Read more »
$6.3M raised for synagogue massacre families, survivorsPITTSBURGH (AP) — A $6.3 million fund established in the wake of the Pittsburgh synagogue massacre will primarily be split among the families of the dead and survivors of the worst attack on Jews in U.S. history.
Read more »
U.S.-UK relationship will prosper after Brexit - U.S. ambassadorBritain's relationship with the United States is more important than ever a...
Read more »
European stocks seen higher ahead of crucial Brexit votes this weekEuropean markets are expected to open higher on Monday ahead of crucial votes in the U.K. that will determine the direction of Brexit.
Read more »
European stocks positive ahead of definitive Brexit deal voteEuropean markets are expected to open higher on Tuesday ahead of the most important vote on Brexit yet.
Read more »
US Treasury yields move higher amid optimism over UK's Brexit dealU.S. government debt prices were lower on Tuesday morning as investors moved into equities with optimism over the U.K.'s Brexit withdrawal deal.
Read more »