Closing financial markets due to Brexit fatigue


On traders’ screens Friday, red was the dominant color as markets ended the week in red.

As no Brexit agreement was in sight, investors were left disoriented, but several trucks formed long queues on the approach to the Dover ferry and Eurotunnel ports.

At 6529.18, the FTSE 100 ended the day down 21.88 points, or 0.33 percent.

When markets closed for the weekend, the pound also slipped, down 0.68 percent against the dollar at 1.349 and down 0.39 percent against the euro at 1.103.

A feeling of exhaustion spread like a thin fog through markets on Friday, with no indication of a real Christmas rally a week before Christmas Day,” said Connor Campbell, financial analyst at Spreadex.”

The biggest move was in sterling – appropriate, considering Michel Barnier’s insistence that the time for Brexit negotiations is all-or-nothing. “things look difficult. And there is a gap that needs to be bridged.”things look complicated. And there is a gap that needs to be bridged.

Hopes for a stimulus package to pass the U.S. Congress even faded as the closure of Europe had not decided on anything. European indexes could only watch and follow suit when the Dow Jones slipped.

The CAC 40 of France closed down 0.39% and the DAX 30 of Germany closed down 0.27% .

The U.K. competition regulator said in corporate news that it “continues to have serious concerns” regarding the funeral industry, while launching a series of reforms aimed at supporting clients.

Dignity, one of the largest providers of funeral services in the United Kingdom, has had a rough year already, with Covid-19 not enabling the company to offer a full range of services. The recent update of the Competition and Markets Authority (CMA) inquiry spooked shareholders even more, and shares at 570 pence closed down 109 pence, or 16.1 percent.

The owner of Wagamama and Frankie & Benny, The Restaurant Group (TRG), warned that the business cost £ 15 million for the second English closure in November. “extremely challenging,”extremely challenging. At 63.05 pence, shares closed down 4.3 pence.

Sir Ian Cheshire, Chief Executive of Barclays UK, announced that he would leave the business as the effort needed to lead the bank out of the crisis would take more than two days a week. At 145p, shares ended 0.54p lower.

Shopping center giant Hammerson said that ahead of Britain’s looming departure from the EU, it was finding a secondary listing in Dublin. At 25.84 pence, London-listed shares ended 0.16 pence lower.

Hikma, up 113 pence at 2,580 pence; CRH, up 101 pence at 3,162 pence; Bunzl, up 65 pence at 2,450 pence; Rentokil, up 11.4 pence at 524.4 pence; and Experian, up 57 pence at 2,823 pence, were the largest winners on the FTSE 100. Land Securities were the biggest losers, down 42.7 pence at 667 pence; British Land at 478.5 pence, down 22.1 pence; Flutter at 14,900 pence, down 590 pence; Lloyds Banking Group at 34.9 pence, down 1.32 pence; and JD Sports at 811.2 pence, down 30.4 pence.


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