European stocks jump as British Parliament resists no-deal Brexit

European stocks rose today to a 5-week highs, to resume the gains that were halted in the previous session on a day of respite, which comes as the British Parliament is obstructing Boris Johnson government approach in exiting the EU without a deal.

As of 10:45 GMT, Stoxx Europe 600 Index rose by 0.7%, its highest level since August 1, while the index shed 0.2% yesterday, on profit taking and concerns about the British political crisis.

The Index rose today to a 5-week high, with the rise of most major European markets and sectors.

The British opposition defeated PM Boris Johnson's in a vote to control parliamentary action and came close to blocking the country's complete secession from the EU without a deal.

After a long debate, the British opposition rejected the no-deal Brexit plan by a majority of 27 votes, and as a result the opposition is now holding the parliamentary agenda, which is usually in the hands of the government.

Which will eventually lead to a bill requiring the prime minister to send a memorandum to Brussels containing a request to delay the Brexit to January 31, 2020, in the case of no agreement with the EU reached before October 31.

In terms of trading, Euro Stoxx 50 rose by 0.7%, with the french CAC 40 rising 1.0%, while in Germany the DAX rose by 0.9%, and London's FTSE 100 rose by 0.3%.

S&P 500 futures rose by1.1%, after closing yesterday in Wall Street lower by about 0.7%, its first loss in 4 sessions, on profit-taking