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European Stock Markets to Open Lower Over the Possibility of Another Brexit Delay

European stock markets are expected to trade lower on Wednesday’s opening over dampening sentiment around Brexit following the UK Parliament’s decision to request the EU for yet another extension on its departure. After Johnson’s latest withdrawal agreement passed the House of Commons with a majority vote, markets had turned hopeful for a resolution soon ahead of the upcoming Brexit deadline.

However, the enthusiasm was short-lived after UK’s MPs turned down Johnson’s ambitious plans to get his Brexit Bill passed through the Parliament within three days, as it would have given no time for MPs to review the proposal. The ball is now back in EU’s court as it contemplates whether to delay Brexit till January 31, 2020, as per the latest request from UK MPs.

As the uncertainty around Brexit drags on, stock markets trade under pressure as the market sentiment remains mixed. Later today, European stock markets can also expect some moves on the release of Eurozone’s consumer confidence figures.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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