Quieter day for markets after Brexit unrest
MARKETS stabilised yesterday in the absence of dramatic new Brexit developments, but analysts said the mood remained “tense”.
The pound, which last week experienced its worst one-day fall since June 2016, was less volatile.
Sterling was 0.1% higher against the US dollar at 1.285, but down 0.14% versus the euro to 1.123.
Fiona Cincotta, senior market analyst at City Index, said: “Brexit headlines continued to fuel volatility in the pound on Monday as traders watched and waited.
“Theresa May was attempting to drum up backing for the Brexit deal, this time from business leaders, whilst dissenters from her party attempted to draw together enough support for a leadership challenge.
“With insufficient letters submitted so far for a vote of no confidence, Theresa May is still clinging on to power.”
Meanwhile, top-flight London stocks slid into the red, amid losses on global markets.