Negotiators from the European Union (EU) and the UK have reached an agreement on a new Brexit deal, against all odds owing to the lead of British Prime Minister Boris Johnson, who has particularly prioritised terms that protect the peace in Ireland. The next big task for the PM is to get the fractious British parliament to vote for the same on 19 September 2019.
If successful, UK would leave the bloc while following EU rules until the end of 2020 (transition period). Meanwhile, the two units would discuss on a trade deal and other elements of their future relationship.
While UK Stocks have been under spotlight, AU stocks seem to be trading as per domestically drivenÂ events. We do see UK-exposed stock, CYBG PLC (ASX: CYB) going down a bit, settling the dayâs trade 3.9% lower at $2.460 on 18 October 2019.