Europe stocks jump to a 5-month high as no-deal Brexit got rejected

2019-03-14 12:14:43 GMT (
Europe stocks jump to a 5-month high as no-deal Brexit got rejected

The European shares jumped Thursday morning to their highest in five months, continuing gains for the second session in a row, as risk appetite rose, after the British parliament rejected the separation of the country from the European Union without an agreement, and later on today a new vote is scheduled to postpone the deadline of Brexit in 29 In March.


Stoxx Europe 600 rose 0.2% till 09:55 GMT, its highest since last October, and ended yesterday's session up 0.6%, as investors bet on the British parliament's rejection of the  no-deal Brexit.


Stoxx Europe Index(TMI) rose Thursday morning to continue its gains for a second consecutive session, hitting its highest level in five months, with most of the major markets and sectors in the Green Zone.


The energy sector is leading the gainers in Europe, with most of the sector gaining after a new jump in oil prices, hitting their highest levels in 2019 as OPEC's efforts to support the market continue while US inventories and production fall.


The British parliament on Wednesday voted "after the closure of most of Europe's financial markets" by 312 to 308 members in favor of an amendment put forward by a group of lawmakers that obliges the British government to exclude EU exit without an agreement.


Theresa May's government has previously warned that the country would face political, economic and constitutional challenges if it exited the European Union without an agreement on March 29.


The British parliament will vote later today, on whether the European Union should be asked to postpone the planned Brexit deadline on the 29th of this month for a further period of time. but even If the parliament approves it, it will be a more difficult approval to require the rest of the EU member states to approve that.


Meanwhile, S & P 500 futures rose by 0.2%, hitting a five-month high before the opening of Wall Street's official trading session. The index ended yesterday's session up 0.7%, its third consecutive daily gain.


Euro Stoxx 50 index also gained 0.3%. whilst in France, CAC 40 index gained 0.5%. and Germany's DAX index added 0.1%. and also London's FTSE 100 index gained 0.6%, leading the list of European gainers.

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