European Stock Markets to Open Lower Over the Possibility of Another Brexit Delay
Arslan Butt • 1 min read
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.