Brexit News Archive: 15 Oct 2019

Brexit deal within reach in last-ditch talks, but doubts remain

Britain and the EU made headway on Tuesday in last-ditch talks on a Brexit deal ahead of a leaders' summit, but with just hours left to clinch an agreement it was still unclear if London could avoid postponing its scheduled departure on Oct. 31.
Reuters   |   Tue, 15 Oct 2019 21:31:30

Brexit supporter Paterson says emerging deal is 'unacceptable' - The Sun

Brexit supporting Conservative lawmaker Owen Paterson said Prime Minister Boris Johnson's emerging European Union divorce deal was "absurd" and The Sun newspaper reported.
Reuters   |   Tue, 15 Oct 2019 21:31:15

DUP says more work needed on PM Johnson's Brexit plan, gaps remain

The small Northern Irish party supporting Britain's minority government said further work was required on Prime Minister Boris Johnson's Brexit deal because gaps remain over what they can sign up to.
Reuters   |   Tue, 15 Oct 2019 20:20:07

Forex Today: Brexit hopes boosted Pound and mood

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FX Street   |   Tue, 15 Oct 2019 20:19:44

Brexit: Lib Dems table second referendum amendment to force Boris Johnson to allow new vote

If amendment is selected, MPs will vote on the bid next week
Lizzy Buchan / The Independent   |   Tue, 15 Oct 2019 20:03:08

Brexit: PM Johnson calls mass meeting of the 1922 committee of Conservative backbenchers

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FX Street   |   Tue, 15 Oct 2019 20:02:34

Getting Brexit done? It's already cost UK economy almost £70bn, new report says

Figures emerge just days ahead of massive march to demand a Final Say referendum on any deal Boris Johnson gets with EU
Andrew Woodcock / The Independent   |   Tue, 15 Oct 2019 20:01:23

Boris Johnson ‘on brink of Brexit deal’ after concessions on Irish border

British Prime Minister Boris Johnson appears to be on the brink of reaching a Brexit deal after making major concessions to EU demands over the Irish border.A draft text of the agreement could now be published on Wednesday if Downing Street gives the final green light, according to senior EU ...
The Guardian / South China Morning Post   |   Tue, 15 Oct 2019 19:52:31

DUP faces hard choices on trust and Brexit

Boris Johnson tries to reassure parliamentary allies over EU departure plan
FT   |   Tue, 15 Oct 2019 19:48:40

GBP/USD consolidates strong daily gains, eyes 1.2800 on Brexit deal hopes

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FX Street   |   Tue, 15 Oct 2019 19:36:55

Stocks Surging into Final Hour on Earnings Optimism, Brexit Deal Hopes, Less European/Emerging Markets/US High-Yield Debt Angst, Sector Strength

Broad Equity Market Tone: Advance/Decline Line: Substantially Higher Sector Performance: Almost Every Sector Rising Volume: Around Average Market Leading Stocks: Outperforming Equity Investor Angst: Volatility(VIX) 13.6 -6.6% Euro/Yen Carry Return Index 124.70 +.5% Emerging Markets Currency Volatility(VXY) 7.89 -1.38% S&P 500 Implied Correlation 32.7 -6.6% ISE Sentiment Index 148.0 +64.4% ...
Unknown / Between the Hedges   |   Tue, 15 Oct 2019 18:54:00

UK and EU locked in race to broker Brexit deal

Johnson offering cash payment to Northern Ireland to bring DUP onside
FT   |   Tue, 15 Oct 2019 18:47:14

DUP leader says 'no' to mooted Brexit compromise on tariffs

The small Northern Irish party supporting Britain's minority government insisted on Tuesday that the region must remain within the United Kingdom customs union as part of any Brexit deal and not have to follow tariffs set by the European Union.
Reuters   |   Tue, 15 Oct 2019 18:26:02

Brexit Market Rockin'

The PredictIt market on a Brexit by November 1st is up over 50 percent in the past 24 hours. The Rules Prior to 12:00:01 a.m. November 1, 2019 London time, the United Kingdom shall exit the European Union. - PredictIt ... Continue reading →
macromon / Global Macro Monitor   |   Tue, 15 Oct 2019 18:04:26

DUP leader pouring cold water on Brexit draft-deal optimism

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FX Street   |   Tue, 15 Oct 2019 17:55:28

Sick of Brexit, Scotland’s leader Nicola Sturgeon vows to hold new independence vote in 2020

Scotland must hold another independence referendum in 2020 and will soon request the powers needed to hold it legally, Scottish National Party (SNP) leader Nicola Sturgeon said on Tuesday.Scots rejected independence in a referendum in 2014 but the SNP says that Britain’s vote to leave the European Union fundamentally changes ...
Reuters / South China Morning Post   |   Tue, 15 Oct 2019 17:53:38

GBP/JPY holding territories in 139 handle, despite DUP risks to Brexit draft

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FX Street   |   Tue, 15 Oct 2019 17:43:14

Mid-Day Update: Brexit Draft Deal Bubble Ready to Burst, Solid start for Earnings Season

The British pound continued to rally after the forex market began pricing in chances of a Brexit deal getting done. Perhaps, all this optimism will be for nothing and today will feel more like the scene in Dumb and Dumber when Lloyd, Jim Carrey's character says, "So you're telling me ...
Ed Moya / OANDA   |   Tue, 15 Oct 2019 17:35:20

Will Boris Johnson have a deal to put to MPs on Saturday?

After a series of U-turns, there are signs a deal is possible. We look at the potential outcomes Latest Brexit news - live updates By Wednesday afternoon, it will be clear whether Boris Johnson will have a deal to put to parliament on its "super Saturday" sitting or not. Michel ...
Daniel Boffey in Luxembourg / Guardian   |   Tue, 15 Oct 2019 17:27:28

Brexit: Late night talks in Brussels 'on brink of deal'

But gap between the two sides remain as deadline for EU summit looms
Jon Stone / The Independent   |   Tue, 15 Oct 2019 17:22:00

Britain narrows gap in last-gasp Brexit talks, only hours remain

Britain and the EU made headway in eleventh-hour talks on Tuesday to reach a Brexit deal in time for a leaders' summit, but with hours left to clinch an agreement it was still unclear if London could avoid delaying its scheduled Oct. 31 departure.
Reuters   |   Tue, 15 Oct 2019 17:16:06

European Growth Failed To 'Lift Off' Amid Brexit, Slowdown: IMF Economist

Europe's economic expansion sputtered this year, disappointing expectations due to the well-known Brexit concerns, but also because of issues within major economies like Germany and Italy, a top IMF economist told AFP. Gian Maria Milesi-Ferretti, deputy director of the IMF Research Department, said weakening global demand means those export-dependent economies ...
IBTimes   |   Tue, 15 Oct 2019 17:14:52

European shares jump as hopes of Brexit deal grow

European stocks rose to their highest in nearly three months on Tuesday, with Irish stocks soaring almost 3%, after a news report said negotiators were on the verge of a deal that would avoid Britain crashing out of the European Union.
Reuters   |   Tue, 15 Oct 2019 17:12:59

EU, UK Seen Closing In On 'Possible' Brexit Text

Britain and the EU were seen to be closing in on a detailed draft Brexit deal on Tuesday, although officials voiced scepticism it would be ready in time for a key European summit this week. The pound jumped to its highest level in five months on cautious optimism voiced by ...
IBTimes   |   Tue, 15 Oct 2019 16:39:29

Brexit: Pound and shares jump on optimism over talks

Sterling hits its highest in five months on reports the two sides are inching towards a draft deal.
BBC   |   Tue, 15 Oct 2019 16:37:45

Pro-Brexit lawmaker Baker says optimistic a tolerable deal can be struck

The leader of the strongly pro-Brexit faction within Prime Minister Boris Johnson's Conservative Party said he was optimistic that a tolerable deal could be struck with the European Union that he could vote for in parliament.
Reuters   |   Tue, 15 Oct 2019 16:36:53

Leo Varadkar: UK government confident MPs would back Brexit deal

Irish prime minister says a deal is closer but there are 'a few hurdles' still to clear.
Eleni Courea / Politico   |   Tue, 15 Oct 2019 16:35:45

Brexit to budgets: the key themes at this week's EU summit

EU national leaders will meet in Brussels on Thursday and Friday to discuss some of the biggest issues facing the bloc, including the prospect of a member state leaving for the first time and two countries looking to join.
Reuters   |   Tue, 15 Oct 2019 16:30:26

Brexit to be delayed until next year even if a deal is announced tonight - The Times

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FX Street   |   Tue, 15 Oct 2019 16:20:04

Pound at highest since May and stocks surge on Brexit deal hopes

The pound has jumped to its highest level against the dollar since May on an unconfirmed report a draft Brexit deal with the EU may be close.
Sky   |   Tue, 15 Oct 2019 16:18:00

Stocks jump on report Brexit deal may be close, oil slips

Stocks in Europe and on Wall Street jumped more than 1% on Tuesday on strong U.S. corporate results and a possible deal to avoid a disorderly British exit from the European Union, while oil prices fell as weak China data kindled global economy fears.
Reuters   |   Tue, 15 Oct 2019 16:16:37

Britain narrows gap in last-gasp Brexit talks, but just hours left

Britain and the EU made headway in eleventh-hour talks to work out a Brexit deal in time for a leaders' summit this week, but with hours left to clinch a deal it was still unclear whether London could avoid a delay to its Oct. 31 scheduled departure.
Reuters   |   Tue, 15 Oct 2019 16:11:27

Sterling jumps to highest since May on Brexit deal hopes

Sterling surged on Tuesday to its highest level against the dollar and the euro since May while British stocks and government bond yields also rose after Bloomberg said British and EU negotiators were closing in on a draft Brexit deal.
Reuters   |   Tue, 15 Oct 2019 16:10:48

Gold slumps to $1,480 area on Brexit hopes

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FX Street   |   Tue, 15 Oct 2019 16:07:14

London retains global finance throne amid Brexit chaos

From the pinnacle of the City of London's largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with Brexit.
Reuters   |   Tue, 15 Oct 2019 16:04:56

Boris Johnson news - live: Leo Varadkar says Brexit talks making progress but gap between two sides 'still quite wide' as deadline looms

Follow all the latest developments
Adam Forrest, Benjamin Kentish / The Independent   |   Tue, 15 Oct 2019 16:00:00

Pound Surges As Brexit Deal Speculation Heats Up

The pound rallied Tuesday to levels last seen five months ago as speculation on an imminent Brexit deal gained traction, dealers said. Sterling got an early boost from the European Union's top Brexit negotiator flagging the possibility of a divorce agreement this week, reviving hopes that Britain might yet avoid ...
IBTimes   |   Tue, 15 Oct 2019 15:57:11

Sick of Brexit, Scotland's Sturgeon vows new independence vote in 2020

Scotland must hold another independence referendum in 2020 and will soon request the powers needed to hold it legally, Scottish National Party (SNP) leader Nicola Sturgeon said on Tuesday.
Reuters   |   Tue, 15 Oct 2019 15:51:49

Hays/Brexit: hire purchase

Unpredictable UK politics will produce new buying opportunities
FT   |   Tue, 15 Oct 2019 15:50:26

DUP will not back Brexit deal if UK PM Johnson accepts more

Northern Ireland's Democratic Unionist Party will not support Prime Minister Boris Johnson's Brexit deal if he has to make more concessions to the European Union to get it done, the HuffPost reported on Tuesday.
Reuters   |   Tue, 15 Oct 2019 15:45:11

Report of imminent Brexit deal 'premature' - EU officials

A report that Britain and the European Commission are close to agreeing on the text of a Brexit deal is two EU officials said on Tuesday, though a third said there had been some "serious convergence of views" in technical talks.
Reuters   |   Tue, 15 Oct 2019 15:39:10

Irish PM says Brexit talks make progress and going in the right direction

Irish Prime Minister Leo Varadkar said on Tuesday that Brexit talks between the United Kingdom and the European Union had made progress and were moving in the right direction.
Reuters   |   Tue, 15 Oct 2019 15:36:50

Senior EU official: Report of imminent Brexit deal "way too premature"

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FX Street   |   Tue, 15 Oct 2019 15:31:07

Brexit talks continue, still work to do - PM Johnson's spokesman

Talks aimed at reaching a Brexit deal with Brussels are continuing but there is still work to do, British Prime Minister Boris Johnson's spokesman said on Tuesday.
Reuters   |   Tue, 15 Oct 2019 15:22:30

Tuesday afternoon news briefing: Race to meet Brexit deal midnight deadline

Danny Boyle / Telegraph   |   Tue, 15 Oct 2019 15:14:22

Nicola Sturgeon: Scottish nationalists will never back Boris Johnson's Brexit deal

Such an agreement would not be much better than a no-deal scenario, first minister says.
Cristina Gallardo / Politico   |   Tue, 15 Oct 2019 15:12:52

Pound surges on hopes for a last-minute Brexit deal

Banks and homebuilder stocks also jump after potential deal moves into view
FT   |   Tue, 15 Oct 2019 15:10:46

GBP/USD technical analysis: Cable spikes to 1.2800 on reports of a draft Brexit deal

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FX Street   |   Tue, 15 Oct 2019 15:10:09

UK PM Johnson's spokesman: Brexit talks continue but there is still work to do

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FX Street   |   Tue, 15 Oct 2019 15:07:20

Gold Lower as Trade and Brexit Optimism Put Pressure

Gold traded lower on Tuesday as market participants awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for December delivery on Comex GCZ19, -0.89% was off $6.50, or 0.4%, at $1,491.10 an ounce, while December silver SIZ19, -1.52% gave up 18.5 cents, or ...
Alfonso Esparza / OANDA   |   Tue, 15 Oct 2019 15:02:39

David Davis warns Tory Brexiteers: 'Remember the Spartans lost!'

Former Brexit secretary David Davis has predicted a majority of MPs will support a Boris Johnson-negotiated EU exit deal as they know "this is the last play".
Sky   |   Tue, 15 Oct 2019 14:59:00

Pound and UK stocks surge on report EU, UK close to Brexit draft deal

Sterling jumped against the dollar and the euro while British stock prices and government bond yields rose in late afternoon trading on Tuesday after a Bloomberg report that British and European Union negotiators were close to a Brexit draft deal.
Reuters   |   Tue, 15 Oct 2019 14:53:23

France puts onus on exporters to prepare for Brexit custom checks

France has warned companies bringing goods in and out of Britain through its border after Brexit that they are responsible for making sure their paperwork is in order.
Reuters   |   Tue, 15 Oct 2019 14:44:39

Germany's Scholz: No-deal Brexit would damage Britain the most

Germany's Finance Minster Olaf Scholz told Reuters on Tuesday that a no-deal Brexit should be avoided as such an outcome would damage Britain the most.
Reuters   |   Tue, 15 Oct 2019 14:35:39

Sterling Spikes As EU Touts 'Brexit Breakthrough'

Sterling Spikes As EU Touts 'Brexit Breakthrough' Update (1030ET): Bloomberg reports, according to two people with knowledge of the negotiations, confirm the earlier rumors that the U.K. and EU are inching closer to a draft Brexit deal. Any deal will hinge on U.K. Prime Minister Boris Johnson getting the support ...
Tyler Durden / Zero Hedge   |   Tue, 15 Oct 2019 14:30:04

Breaking: GBP/USD leaps to 1.2750 on reports of a draft Brexit deal

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FX Street   |   Tue, 15 Oct 2019 14:29:19

Global Economic Outlook 'Precarious,' No Room For Mistakes, IMF Warns

The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war and other factors like Brexit undercut business confidence and investment, the IMF said Tuesday. It warned that the outlook is beset by risks, and urged policymakers to work to find resolutions ...
IBTimes   |   Tue, 15 Oct 2019 14:23:08

Amid Brexit tension, Irish PM says UK citizenship laws out of step with Northern Ireland peace deal

British citizenship laws are out of step with Northern Ireland's 1998 peace accord that recognised the birthright of anyone in the British-run region to identify as Irish, British or both, Irish Prime Minister Leo Varadkar said on Tuesday.
Reuters   |   Tue, 15 Oct 2019 14:16:48

IMF's Gopinath: No-deal Brexit would reduce UK GDP by 3%

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FX Street   |   Tue, 15 Oct 2019 14:11:35

Boris Johnson mocked in parliament after winning first vote in 8 attempts as PM

Vote marks Mr Johnson's first victory in Commons since replacing Theresa May at No 10 almost three months ago
Ashley Cowburn / The Independent   |   Tue, 15 Oct 2019 14:09:00

Pound hits five-month high against euro with Brexit in focus

FT   |   Tue, 15 Oct 2019 14:00:25

Brexit to be delayed again, free trade deal will be struck - Reuters poll

Britain's Oct. 31 departure from the European Union will be delayed, according to the vast majority of economists polled by Reuters who again said the two sides would eventually agree a free trade agreement as the chance of a no-deal exit had fallen.
Reuters   |   Tue, 15 Oct 2019 13:58:22

Brexit to be delayed again, free trade deal will be struck - economists

Britain's Oct. 31 departure from the European Union will be delayed, according to the vast majority of economists polled by Reuters who again said the two sides would eventually agree a free trade agreement as the chance of a no-deal exit had fallen.
Reuters   |   Tue, 15 Oct 2019 13:53:32

Brexit: Narrow path to deal at EU summit, says Barnier

The EU's negotiator suggests the two sides have until the end of Tuesday to agree a new legal text.
BBC   |   Tue, 15 Oct 2019 13:48:53

Too soon to say if Britain's parliament will sit on Saturday - parliament leader

It is too soon to say whether Britain's parliament will need to sit on Saturday, Jacob Rees-Mogg, leader of the lower house of parliament, said on Tuesday, in a reference to ongoing talks in Brussels over a Brexit deal.
Reuters   |   Tue, 15 Oct 2019 13:29:29

Brexit march: When is the Final Say rally and will there be a second referendum?

Hundreds of thousands to demand fresh Brexit vote at major London rally on 19 October
Tom Parfitt / The Independent   |   Tue, 15 Oct 2019 13:20:00

IMF warns world growth slowest since financial crisis

The International Monetary Fund warns against "policy mistakes" such as tariffs and a no-deal Brexit.
BBC   |   Tue, 15 Oct 2019 13:03:22

China’s 2019 growth rate again cut by IMF as US trade war, Brexit leaves world economy in position

China’s economic growth rate will remain just inside the government's target range in 2019 despite the International Monetary Fund again downgrading their prediction, while warning the outlook for the world economy “remains Washington-based International Monetary Fund (IMF) predicted in their latest report released on Tuesday that China’s growth will be ...
Amanda Lee / South China Morning Post   |   Tue, 15 Oct 2019 13:00:13

Brexit deal still possible this week, UK must act now: EU

A Brexit divorce deal is still possible ahead of Thursday's European Union summit but the British government needs to move ahead with more compromises to seal an agreement in the next few hours, the bloc said Tuesday. Even though many open questions remain, diplomats made it clear that both sides ...
Times of India   |   Tue, 15 Oct 2019 12:57:32

BoE's Vlieghe: No-deal Brexit scenario more likely to require stimulus than tightening

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FX Street   |   Tue, 15 Oct 2019 12:46:26

Global stocks struggle higher on Brexit hopes as trade optimism fades

Global stocks edged higher on Tuesday yet safe havens were still in play as markets tried to balance fading optimism over the latest China-U.S. trade truce with the likelihood of a Brexit deal by Thursday's European Union summit.
Reuters   |   Tue, 15 Oct 2019 12:39:41

'Whiff of sexism' about how Theresa May was forced out, says ex-Tory minister

Boris Johnson's 'aggressive behaviour' may appeal to men in the Brexiteer European Research Group, says Amber Rudd.
Paul Dallison / Politico   |   Tue, 15 Oct 2019 12:06:16

UK's robust jobs market dented amid big fall in employment

Brexit uncertainty 'finally taking toll' as pay rises slow and unemployment increases The number of people in work fell by the largest margin in four years in August as the uncertainty created by the Brexit talks weakened Britain's previously robust labour market. The employment figures dropped by 56,000 in the ...
Phillip Inman / Guardian   |   Tue, 15 Oct 2019 11:55:47

Police holiday restricted amid fears Brexit could trigger terror attacks in Northern Ireland

'We've put arrangements in place to maximise our own ability to stand on our own two feet,' says assistant chief constable
Ashley Cowburn / The Independent   |   Tue, 15 Oct 2019 11:52:00

EU's Barnier sees three Brexit scenarios: deal, extension, - sources

The European Union's Brexit negotiator told the 27 EU states staying on together that he saw three possible scenarios ahead: a deal with Britain later on Tuesday, another delay to Britain's departure or a of talks, according to diplomats with the bloc.
Reuters   |   Tue, 15 Oct 2019 11:46:21

Pound Surges As EU's Barnier Fans Brexit Deal Hopes

The pound rallied Tuesday after the European Union's top Brexit negotiator flagged the possibility of a divorce deal this week, reviving hopes Britain could avoid crashing out of the bloc. With the exit deadline on October 31, Michel Barnier's comments reinforced hopes for an eventual agreement between the two sides ...
IBTimes   |   Tue, 15 Oct 2019 11:44:15

Just hours left to secure a Brexit deal before EU summit

Britain must reach a Brexit agreement with the EU by the end of Tuesday so it can be approved at a leaders' summit this week, the bloc's officials and diplomats said, otherwise Britain's scheduled departure date of Oct. 31 could be pushed back.
Reuters   |   Tue, 15 Oct 2019 11:42:09

Finnish PM says Britain is seriously trying to avoid hard Brexit

Finland's prime minister, Antti Rinne, said on Tuesday that for the first time, it looked like Britain was trying to reach an agreement to avoid a hard Brexit at the end of October.
Reuters   |   Tue, 15 Oct 2019 11:41:54

10 things you need to know before the opening bell

Here is what you need to know. 1. WeWork is reportedly favoring JPMorgan over SoftBank to bail out the buckling real-estate firm. JPMorgan Chase's refinancing package would be roughly worth $5 billion, company insiders told Bloomberg. 2. Boris Johnson is getting close to winning a majority for a Brexit deal. ...
Yusuf Khan / Money Game   |   Tue, 15 Oct 2019 11:39:04

New environment bill removes power to fine government for missing targets

'Brexit will mean relinquishing protections ingrained in EU membership and this bogus watchdog will have little in the way of bark, let alone any bite to deal with it.' says Green Party
Phoebe Weston / The Independent   |   Tue, 15 Oct 2019 11:28:13

France: President Macron spoke to UK PM Johnson as Brexit deadline looms

French President Emmanuel Macron has spoken to British Prime Minister Boris Johnson, an official in Macron's office said on Tuesday, as a deadline looms to reach a Brexit deal.
Reuters   |   Tue, 15 Oct 2019 11:27:04

London must move further to get Brexit deal - German official

Some progress has been made in talks over Britain's departure from the European Union, a senior German government official said on Tuesday, but warned that London still had further to move in the EU's direction to secure a deal.
Reuters   |   Tue, 15 Oct 2019 11:26:01

EU, Britain Scramble To Reach Brexit Deal Before Summit

British and EU negotiators on Tuesday scrambled to put together a draft text for a Brexit deal with just two days to go before a key European summit.
IBTimes   |   Tue, 15 Oct 2019 11:22:59

US open - Brexit, GBP, gold, oil

Barnier Taking Sterling For a Ride Michel Barnier is taking sterling for a ride this morning, with the regular flow of commentary highlighting the sensitivity of traders to Brexit deal prospects. Early in the day, sterling soared on reports that Barnier views a deal as possible this week, only for ...
Craig Erlam / OANDA   |   Tue, 15 Oct 2019 11:16:54

EU's Barnier to brief EU governments on Brexit on Wednesday

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FX Street   |   Tue, 15 Oct 2019 11:15:38

Stocks, Bonds Rise As Earnings Season Begins

Stocks, Bonds Rise As Earnings Season Begins Global markets edged higher on Tuesday even as safe havens were bought as markets tried to balance fading optimism over the latest China-U.S. trade truce with the likelihood of a Brexit deal by Thursday's European Union summit. However, S&P futures trimmed dropped a ...
Tyler Durden / Zero Hedge   |   Tue, 15 Oct 2019 11:07:09

Brexit News Archive: 15 Oct 2019     |     enquire