Saturday 12 September 2020

Markets rise, “no-deal” Brexit looms

Markets rose on Friday.

The S&P 500 rose 0.1 percent, the STOXX Europe 600 rose 0.1 percent and the Shanghai Composite rose 0.8 percent.

“Investors should brace for more choppiness in the months ahead, with COVID-19 infection rates remaining in the headlines, U.S. elections approaching, U.S.-China tensions ratcheting up, and Brexit challenges lingering,” said Frédérique Carrier, head of investment strategy at RBC Wealth Management.

The European Union stepped up planning for a “no-deal” Brexit on Friday after Prime Minister Boris Johnson’s government said it plans to break international law by breaching parts of the Withdrawal Agreement treaty that it signed in January.

“Nobody should underestimate the practical, economic and social consequences of a ‘no-deal’ scenario,” said EU chief negotiator Michel Barnier.

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