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Pound Gains on Brexit Optimism as Focus Shifts to Trade Talks

By Ritu, Capital Sands Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. The pound rallied for a second day amid optimism a speedy resolution to the Brexit deadlock is in store after the Conservative Party’s election victory. Sterling advanced against all its major peers after Chief Secretary to the Treasury Rishi Sunak said the government plans to put its Brexit legislation before Parliament ahead of Christmas to ensure the country will leave the European Union as planned at the end of January. “With the Tories’ decisive victory, U.K. markets should quickly shift focus to the coming trade negotiations and spending priorities,” Audrey Childe-Freeman and Tim Craighead, strategists at Bloomberg Intelligence, wrote in a ...
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Asian Markets Mixed as Lighthizer Says No Date is Set for Phase Two Talks

By Ritu, Capital Sands Asian markets were mixed on Monday morning in Asia as U.S. Trade Representative Robert Lighthizersaid the phase one Sino-U.S. trade deal is “totally done,” but no date is set for the next phase two talks. China’s Shanghai Composite slipped 0.1% by 11:35 PM ET, while the Shenzhen Component gained 0.6%. Hong Kong’s Hang Seng Index dropped 0.3%. The phase one deal was agreed on Friday and the two nations are expected to official sign the partial accord in the first week of January, On the data front, China’s industrial output rose 6.2% in November from a year earlier, versus a median estimate of 5.0%. Retail sales expanded 8.0% during the month, compared to a projected 7.6% increase ...
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