Britain’s index of leading shares closed at its highest since the pandemic sparked a market rout in March as investors on Tuesday cheered the post-Brexit trade deal.
In the first day of trading since markets closed on Christmas Eve, the FTSE 100 ended up 1.6% at 6,603 points.
It was the Footsie’s best day since 9 November, and only falls in bank shares stopped the index from rising further.
US shares also rose in the first few hours of trading.
The government has warned that the outcome of ongoing Brexit negotiations will not alter significant changes to trade with EU that business needs to prepare for.
“Customs declarations are complicated”: That’s according to page 8 of a 208-page government guide to importing and exporting after the transition period ends at the end of this year.
The document is dense, detailed and presents a daunting checklist for firms looking to be prepared for the biggest change to doing business with our largest and closest partner.
Would you sacrifice your nationality to secure the rights guaranteed to EU citizens?
There’s been a rapid rise in the number of British nationals living in the Netherlands applying to become Dutch since the UK voted in a referendum to leave the European Union.
The pound has continued to fall on currency markets amid intensified political uncertainty over Brexit.
Reports of a possible snap general election weighed on sterling as MPs mulled efforts to push for a further three-month Brexit extension.
Against the dollar, it sank more than a cent to $1.2050, while against the euro, it fell below the €1.10 mark
Speaker John Bercow has thrown the UK’s Brexit plans into further confusion by ruling out another vote on the PM’s deal unless MPs are given a new motion.
In a surprise ruling, he said he would not allow a third “meaningful vote” in the coming days on “substantially the same” motion as MPs rejected last week.
With 11 days to go before the UK is due to leave the EU, ministers have warned of a looming “constitutional crisis”.
The UK is currently due to leave the EU on 29 March.
Companies in the United Kingdom are suffering from a bad case of déjà vu after lawmakers rejected a second version of the Brexit deal negotiated by Prime Minister Theresa May.
“Enough is enough,” said Carolyn Fairbairn, director general of the Confederation of British Industry, a business lobby. “It’s time for parliament to stop this circus,” she added, stressing that “jobs and livelihoods depend on it.”
The stunning defeat increases the chances that Britain will crash out of the European Union without a deal in just 17 days — doing big damage to the economy — or that Brexit will be delayed, prolonging the uncertainty for business.
Theresa May has promised MPs a vote on delaying the UK’s departure from the EU or ruling out a no-deal Brexit, if they reject her deal next month.
Mrs May made a statement to MPs about Brexit on Tuesday, amid the threat of a revolt by Remain-supporting ministers.
The PM has promised MPs a meaningful vote on her Brexit deal by 12 March.
But Labour leader Jeremy Corbyn accused the prime minister of another “grotesquely reckless” Brexit delay.
Former Chancellor George Osborne has said delaying the UK’s exit from the EU is now the “most likely” option.
The UK has to choose between no deal – which he compared to Russian roulette – or no Brexit for now, he told the BBC.
MPs are proposing alternative plans to the PM’s deal with the EU, including seeking an extension to the UK’s exit date – it is due to leave on 29 March.
But the prime minister has said the “right way” to rule out no-deal Brexit is to approve her withdrawal agreement.
Prime Minister Theresa May has won a vote of confidence in her leadership of the Conservative Party by 200 to 117.
After securing 63% of the total vote, she is now immune from a leadership challenge for a year.
Speaking in Downing Street, she vowed to deliver the Brexit “people voted for” but said she had listened to the concerns of MPs who voted against her.
Her supporters urged the party to move on but critics said losing the support of a third of MPs was “devastating”.
Firms are running out of patience over the lack of progress in the Brexit talks, a major business organisation has warned Theresa May.
The British Chambers of Commerce has published a list of 23 “real-world” questions that it says urgently need answers as the UK’s EU exit approaches.
The list covers subjects including VAT, tariffs, customs and regulations.
The BCC said companies were no clearer on these critical issues than they were immediately after the referendum.