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FTSE 100 ends in green, USD/GBP crosses 1.36 as investors await Brexit deal outcome
UK stock markets ended flat on Thursday, 24 December, in a shortened session on account of Christmas Eve, as investors waited with bated breath for a conclusive outcome out of the terminal discussions with regard to the Brexit trade arrangement. The key equity index FTSE 100 settled marginally higher, whereas the broader stock index finished with a gain of more than 1 per cent.
According to various media reports, Prime Minister Boris Johnson is likely to announce the result of the deliberations between the European Union and the United Kingdom administration in connection to the post-Brexit trade agreement that can be established between Britain and the partner European countries.
FTSE 100 in green on Christmas Eve
According to the provisional data available with the London Stock Exchange, the FTSE 100 ended at 6,502.11, up 6.36 points, or 0.10 per cent, on Thursday from the previous close of 6,495.75 as on 23 December. The wider share barometer FTSE 250 concluded with a gain of 248.92 points, or 1.23 per cent at 20,546.68 from the previous close of 20,297.76.
FTSE 100 (24 Dec)
(Source: EODHD/Others, Thomson Reuters)
Most of the authorities of England moving into Tier 4 from Boxing Day seemed to have weighed on the equities as the recently-identified more contagious strain of coronavirus kept the market momentum dull throughout the day. Following the persisting uncertainty in the markets, the FTSE 100 oscillated in a narrow range of 6,530.28 and 6,479.59.
USD/GBP briefly retakes 1.36
The Great Britain pound (GBP) gained strength against the United States dollar (USD) in the foreign exchange market with the greenback surpassing the mark of 1.36 per unit of the domestic currency. As per Reuters data, the GBP vs USD pair hit an intraday high at 1.3619. The unit of pound sterling equalled a 31-month peak of 1.3624 US dollars in the last week itself.
GBP vs USD (24 Dec)
(Source: Refinitv, Thomson Reuters)
The Bank of England had fixed a currency conversion rate of 1.3522 USD and 1.1095 EUR against a unit of GBP on 23 December. Meanwhile, the crypto asset market continued to show weakness with bitcoin trading 2.82 per cent lower at $23,172.54, Binance data showed.
Commodity check
The commodity market saw a mixed-bag trade on Christmas Eve with an ounce of gold trading at $1,875.78, up 0.20 per cent, while Brent crude oil and NYMEX crude oil trading 0.67 per cent and 0.71 per cent lower at $50.86 and $47.78 a barrel, respectively.
