FTSE falls into the red as Brexit deal wait continues
The FTSE 100 has fallen into the red as mid morning passes and the UK waits to hear if it has secured a deal with the European Union.
At just past 11am London’s main market dropped 0.44 per cent after initially opening on the up.
The market opened up 66 per cent this morning, following hopes a Brexit deal would be announced this morning.
Issues around fishing is holding up the process, an Irish minister has said.
The FTSE will be open for a half day today, as it typical on Christmas Eve.
Lloyds Banking Group was the biggest gainer this morning, up 7.83 per cent, followed by International Consolidated Airlines, which was up 7.71 per cent.
The biggest loser this morning was Just Eat, which fell 1.89 per cent, followed by Reckitt Benckiser, down 1.74 per cent.
The domestically focused FTSE 250 index, considered a proxy to Brexit sentiment, jumped 0.7% to hit a fresh February high.
A Brexit deal has been struck between the UK and the EU after years of negotiation, according to reports. A statement is expected this morning.
The pound also surged this morning on hopes of a Brexit deal, rising 0.47 per cent to $1.36.
The pound also drew support after France lifted its ban on freight coming from Britain, which it had enacted in response to a more contagious coronavirus variant in Britain.