MARKET REPORT

STERLING and UK equity markets skidded lower after the Prime Minister warned that it was “very, very likely” that the UK will exit the EU without a trade deal.

Although Boris Johnson said he was still hopeful that progress could be made, traders were pessimistic. The pound fell by nearly 1.2 per cent before clawing back some ground after German and Irish ministers said a deal could still be made.

The pound decreased by 0.7 per cent versus the US dollar at 1.320 and was down 0.45 per cent against the euro at 1.089.

Meanwhile, the FTSE 100 closed 53.01 points lower at 6,546.75 at the end of trading yesterday.

The biggest risers were SpiraxSarco, up 240p at 11,485p, Burberry, up 33.5p at 1,815p, and Bunzl, up 42p at 2,462p. The biggest fallers were Rolls- Royce, down 10p at 117p, Lloyds, down 1.6p at 34.07p and JD Sports, down 34.4p at 751.8p.