FTSE 250 Soars 2.5% On Brexit Deal Optimism
Fiona Cincotta October 11, 2019 7:17 AM
FTSE 250 soars on Brexit deal optimism owing to domestically exposed stocks
If it wasn’t for the last minute nothing would get done – it would seem that the time pressure of the looming Brexit date has finally sparked a sense of urgency among leaders to move the EU and the UK closer to a deal.
The stocks on the FTSE 250 are very exposed to the UK economy and UK consumer sentiment. They took a big hit following the Brexit referendum and have experienced a challenging trading environment since as Brexit uncertainty has dragged on consumer confidence. A no deal Brexit could have inflicted significant further damage on these stocks. The prospect of a no deal Brexit being avoided is like Christmas has come earlier and this optimism is being reflected in the soaring prices.
These will be the stocks to continue watching; stocks that could well push higher on increased Brexit deal optimism, or lower if fear of a no deal creeps in again.
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