Stocks Take Breather, Brexit Weighs Down Sterling

World stocks sagged on Tuesday as investors struggled to keep the thundering rally of recent weeks going with COVID19 infections still surging and London and Brussels stuck in Brexit purgatory.

Asia had nudged down amid renewed U.S.China tensions and Europes main bourses went sideways as the Brexit drama offset news that a 90yearold grandmother from Northern Ireland had become the first person to receive a COVID19 vaccine outside a trial.

The panEuropean STOXX 600 index barely budged, while sterling was wobbling again having tumbled as much as 1.6 on Monday due to the Brexit nerves.

A facetoface meeting in Brussels between British Prime Minister Boris Johnston and European Commission President Ursula von der Leyen in the coming days is now seen as possibly the only way to salvage a trade deal.

Were always hopeful of striking a deal but you know there may come a moment when we have to acknowledge that its time to draw stumps and thats just the way it is, Johnson said on Tuesday referring to a cricketing term for the end of play.

MSCIs broadest index of AsiaPacific shares narrowed its losses from early trade as Japan announced a new 700 billion stimulus package, but was still down 0.1 as anxiety over the coronavirus pandemic also capped sentiment.

Among Asias top markets, Australian shares closed higher for a sixth straight session, lifted by data showing an improvement in business sentiment. The SPASX 200 index rose 0.2 to 6,687.7, adding about 3 in the past six…

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News