Europe ends mostly lower after May's Brexit speech

Monday, 21. January 2019 17:36

Markets in Europe closed mostly with losses on Monday as investors digested United Kingdom Prime Minister Theresa May's alternative proposal for a Brexit deal after her original agreement was rejected by British lawmakers last week. May announced her government's approach to Brexit has changed and noted cross-party talks on Brexit will continue this week. She also added that she will try to find a solution to the issue of Northern Ireland and renegotiate the backstop provision in order to come up with a withdrawal agreement which will be accepted by both the UK Parliament and the European Union.

The FTSE 100 added 0.03% with Melrose Industries up 1.92%.

The DAX fell 0.62%. Henkel contributed most to the losses, plunging 9.75% after the company lowered its profit outlook for 2019.

The CAC 40 declined 0.17%. Bouygues was the worst performer as its shares slid 1.43%.

The Euro Stoxx 50 was down 0.46% with Deutsche Telekom dropping 2.42%.

The euro traded flat against the dollar to go for 1.1367 at 5:39 pm CET, while the pound added 0.23% compared to the greenback to sell for 1.2895 at the same time.

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Breaking the News / NP