Shares in UK registered banks Barclays, NatWest and Lloyds Banking Group rose in early trading on 24 December in the hope that the UK and EU were on the verge of announcing a Brexit trading deal.
NatWest stock prices rose 2.3% to 170p, Barclays shares rose nearly 3.5% to 157p and Lloyds shares rose 4.4% to 38p.
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Lloyds ‘s share price – which has been sensitive to changes in Brexit sentiment as a result of the bank’ s exposure to the UK economy – rose 7% on 23 December as hopes of a contract grew .
The FTSE 100 rose 0.14% to 6,503 points and the FTSE 250 rose nearly 0.6% to 20,417 points. Meanwhile, Sterling rose 0.6% against the dollar to $ 1.3581.
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ING analysts, led by global markets leader Chris Turner, said an eventual agreement would provide a “small boost” to the pound, pushing it to $ 1.38. They warned of a “negative impact” without a contract but set a one-month target of $ 1.36.
UK and EU negotiators have been locked in overnight talks and are expected to announce a Brexit trade deal on 24 December.
Both sides held detailed discussions on fishing quotas, which have been a major obstacle in agreeing a contract in the period up to 31 December. BBC recitation.
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