Markets await their Christmas present: the Brexit agreement
This week has seen a rally in European stock exchanges awaiting the official confirmation of the Brexit agreement finally becoming a reality. This comes five years after the referendum in which the British voted for the United Kingdom to leave the EU, and after months of disputes, both parties seem to have reached an agreement regarding their new commercial relations as of January first.
Banks are among the stocks with the greatest gains on the London Stock Exchange this morning, namely Lloyds with +4.8% and Barclays with +3.4%. Major European indices and financial institutions also saw some of the highest increases, such as Deutsche Bank with +2.4%, Banco Santander with +1.6%, and Credit Agricole with +1%.
The deal has also pushed the British pound higher. At 12 o'clock in the morning, the GBP/USD rose 0.82%, and broke the barrier of $ 1.3600, in a two and a half year high.
Source: Admiral Markets MetaTrader 5. GBPUSD daily chart. Data range: from October 3, 2018, to December 24, 2020. Prepared on December 24, 2020, at 11:20 am CET. Keep in mind that past returns do not guarantee future returns.
Wall Street indices mostly closed higher, and futures point to a green opening today, in which the stock markets will close earlier than usual for the celebration of Christmas Eve.
Do you know that with Admiral Markets you can speculate on the price movement of currency pairs, whether they go up or down? This is possible thanks to Contracts for Difference (CFD). Click on the following banner if you want to open a real trading account and start trading:
INFORMATION ON ANALYTICAL MATERIALS:
The data provided provides additional information on all analyzes, estimates, forecasts, forecasts, market reviews, weekly outlooks or other evaluations or similar information (hereinafter "Analysis") published on the Admiral Markets website. Before making any investment decisions, pay close attention to the following:
- This is a marketing communication. The content is posted for informational purposes only and should not be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on pre-dissemination of investment research.
- Each investment decision is made by each client alone, while Admiral Markets UK Ltd (Admiral Markets) will not be liable for any loss or damage arising from such a decision, whether based on content or not.
- In order to protect the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for the prevention and management of conflicts of interest.
- The analysis is prepared by an independent analyst, Carolina Caro, SEO implementer (hereinafter "Author") based on personal estimates.
- While all reasonable efforts are made to ensure that all sources of content are reliable and that all information is presented, as much as possible, in an understandable, timely, accurate, and complete manner, Admiral Markets does not guarantee accuracy. or integrity of any information contained in the Analysis.
- Any past performance or modelling of the financial instruments indicated in the content should not be construed as an express or implied promise, guarantee, or implication of Admiral Markets for any future performance. The value of the financial instrument may rise and fall, and the preservation of the asset's value is not guaranteed.
7. Leveraged products (including contracts for difference) are speculative in nature and may generate profit or loss. Before you start trading, make sure you fully understand the risks.