FTSE 100 watch: Footsie little changed as investors await Brexit deal vote

Investors digest Geoffrey Cox comments

FTSE 100 watch: Footsie little changed as investors await Brexit deal vote

The UK benchmark index has been little changed in today’s session, with investors awaiting a vote on Brexit after Prime Minister Theresa May won assurances from Brussels. The market is also digesting comments by attorney general Geoffrey Cox on the latest developments.

Brexit in focus

As of 13:15 GMT, the Footsie had added 4.74 points to stand 0.07 percent higher at 7,135.36. Investor attention is firmly on Brexit ahead of a vote in Parliament scheduled for 19:00 GMT, which will follow assurances from Brussels on changes to Prime Minister Theresa May’s deal with the European Union.

“One feels right now that it won’t be enough to persuade Brexiteer MPs to budge as the text seems well caveated in favour of the EU,” said Markets.com analyst Neil Wilson, as quoted by Reuters. The Guardian meanwhile reports that Geoffrey Cox, the attorney general, had said that hat was agreed last night improved the withdrawal agreement, while cautioning that the legal risk of the UK being stuck in the backstop remained unchanged.

“Sterling took a nose dive on the back of the Cox statement. It was his opinion which matters the most,” Naeem Aslam at thinkmarkets.com commented, as quoted by Proactive Investors. “Another historic defeat is strongly on the cards for Mrs May and all options are on the table with respect to another election or no Brexit at all.”

SLA shares steady

In individual movers, shares in Standard Life Aberdeen (LON:SLA) have been steady ahead of the group’s full-year results tomorrow, even as RBC trimmed its rating on the shares, flagging dividend concerns. The group’s shares are currently 0.14 percent up at 244.95p.

The FTSE 100 was 0.13 percent up at 7,139.63 points as of 14:05 GMT on Tuesday, 12 March 2019.

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