Saturday 30 March 2019

Markets rise after “constructive” US-China talks but no-deal Brexit now “likely”

Markets rose on Friday.

The S&P 500 rose 0.7 percent, the STOXX Europe 600 rose 0.6 percent, the Nikkei 225 rose 0.8 percent and the Shanghai Composite surged 3.2 percent.

Stocks received a boost from apparent progress in US-China trade talks after a Friday tweet by US Treasury Secretary Steven Mnuchin mentioned discussions as being “constructive”.

However, a chaotic withdrawal from the EU by the UK remained a concern after British Prime Minister Theresa May lost another crucial Brexit vote in Parliament on Friday.

A statement from the European Commission said that a no-deal Brexit on 12 April was now “likely”.

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