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British stocks fluctuate amidst Brexit speculation

By Ramla Soni

More volatility ahead due to Brexit negotiations and China US speculation

London stocks have drifted without clarity over Brexit negotiations. The FTSE 100 closed at 7,167.95, down 0.61pc. At the same time, sterling rose 0.4pc to above $1.28, having earlier in the session traded below $1.27.

Hopes of a Brexit deal rose and fell during the day, leading to another day of volatile trading for UK assets ahead of an EU summit on October 17. 10-year gilt yields were broadly flat on the day at 0.69pc, Reuters reported.

Sino-US relations soured over Hong Kong, affecting European stocks. The Stoxx 600 was 0.2% lower at 393.36, as Germany's Dax rose by 0.2% to 12,650.80 and the French CAC 40 dropped by 0.2% to 5,692.74.

Markets in Asia had a mixed day, with investor attention turning to Europe amid Brexit news.

In Japan, the Nikkei 225 was up 1.2pc at 22,472.92, as the yen strengthened 0.08pc against the dollar. The broader Topix index was 0.7pc higher by the end of trading in Tokyo, closing at 1,631.51. The Bank of Korea cut interest rates for the second time in three months during the day, following a previous cut in July.

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