FTSE Continues to Slide Lower: Brexit in Focus
Arslan Butt • 1 min read
Early in trading on Monday, FTSE 100 continues to lose ground and weaken on the back of rising concerns surrounding Brexit and the ongoing weakness in global economic growth. At the time of writing, FTSE is trading at around 7145.
During the previous week, London’s stock market index of the top 100 listed companies shed over 3.6% of its value over growing concerns of recession. In addition, the prolonged trade war between the US and China have also kept global stock markets under pressure lately, including the FTSE.
However, Britain’s stock markets have been plagued more by rising Brexit uncertainties, political turmoil and the growing risks of a no-deal Brexit than external risks such as the trade war and the potential slowdown in the global economy.
With the EU giving the UK only until the end of this week, can we hope to see a Brexit deal forming soon? If so, will this be able to give UK’s stock markets some reason to cheer?