Last-minute tweaks to Britain's deal to leave the European Union triggered gains across global stocks and propelled sterling higher on Tuesday, ...
SHANGHAI/LONDON: Last-minute tweaks to Britain's deal to leave the European Union triggered gains across global stocks and propelled sterling higher on Tuesday, soothing investor worries about a possible no-deal exit that has unnerved financial markets in recent months.
Sterling, which had already risen ahead of the talks on changes, rallied on hopes the assurance may be enough to sway rebellious British lawmakers who have threatened to vote down May's plan again on Tuesday.A reduced likelihood of crashing out of the EU with no Brexit deal helped inject some appetite for riskier assets, potentially eliminating one of the three major concerns of global investors, alongside trade and slowing global growth.
Despite slowing domestic economic growth and uncertainty about the outlook for trade negotiations between China and the United States, Chinese markets have been buoyed this year by investors' expectations of more stimulus to cushion any downturn.Japan's Nikkei stock index closed 1.8 percent higher, but Australian shares erased earlier gains to end down 0.1 percent.
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