About Blue Chip
A blue chip is stock in a corporation with a national reputation for quality, reliability, and the ability to operate profitably in good times and bad.
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Brexit: pound surges on renewed hopes for a deal
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Brexit: pound surges on renewed hopes for a deal
Sterling rose on Friday on a three-month high, amid investor optimism that a last-minute-Brexit Deal between the UK and the European Union .
Against the dollar, the pound rose 1. 9% to $1. 2682, and against The Euro was up 1. 67% to €1. 1489.
The currency has More Than 3% collected since Thursday, its biggest two-day gain outlet since before the June 2016 referendum on the EU.
Many UK-focused shares also fluctuated, with the Royal Bank of Scotland to 11. 6%.
On Friday, the EU Escape negotiator, said Michel Barnier , he had a "constructive" meeting with the UK Escape Secretary, Stephen Barclay . Talks between the Irish and the British Prime Minister, followed on Thursday, according to the joint statement spoke of "a path to a possible Deal ".
the Deutsche Bank currency strategist George Saravelos, said he was "optimistic on Brexit", and no longer a negative effect on the pound, while JPMorgan said the Anglo-Irish Declaration was changed "everything".
"The chances for a Deal seem to have improved and the pound moved accordingly but hurdles still remain open," said Dean Turner , an economist at UBS Wealth Management. To develop a "time-The Details of The Deal are tight, And Then there is the question of parliamentary approval. "
Other analysts noted that trading on the financial markets was thin, leading to a higher volatility and a sharp jump in some share prices. Meanwhile, another analyst said that The Price surges were likely to drift through algorithms in the Market .
after the more confident noises coming out of Brussels, London and Dublin, there was hope that a meeting between British and EU negotiators pave the way for a Brexit transition Deal at a summit on October 17-18.
The rally in sterling will undermine the UK's export-heavy FTSE-100 shares, and The Blue -chip index was even to below 0. 9%.
But stocks exposed to UK growth and consumer in the shot. Housebuilders Persimmon, Barratt and Taylor Wimpey rose More Than 10%. In addition to rose almost 8. 5%, and ITV More Than 6%. More UK-focused FTSE 250 index rose by More Than 4%.
The Yield on 10-year British government bonds was on track for its biggest three-day increase since 2017.
ftse 100, ftse 250, pound sterling (gbp), brexit
Source of news: bbc.com
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