US markets gain ground, while the British pound rallies strongly overnight after UK MPs vote against exiting the European Union without a deal.
US markets gained ground, while the British pound rallied overnight and extended its gains after UK MPs voted against exiting the European Union without a deal.AUD: 70.94 US cents, 53.21 British pence, 62.61 euro cents, 78.86 Japanese yen, $NZ1.034Europe: FTSE 100 +0.1pc at 7,159, DAX +0.4pc at 11,572, CAC +0.7pc at 5,306, Euro Stoxx 50 +0.75pc at 3,068The S&P 500 closed at its highest level since early November, with broad-based gains led by healthcare and energy stocks.
In Europe, markets closed higher in anticipation of a vote in UK parliament on whether to leave the European Union without a deal.The pound touched as high as $US1.338, its highest level since June 2018. "Indeed, it is still not possibly to rule out the risk that we end up with a snap general election, an event risk which were it to transpire has the potential to hurt Sterling by even more than the prospect of an imminent UK exit from the EU without any transition arrangement."
A slew of economic indicators out of China is the major economic news that could drive markets this session.Energy stocks could receive a boost after oil prices made gains overnight, as US crude inventories fell and Venezuelan oil exports stalled following a recent power outage and US sanctions.
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