Europe closes higher as Brexit delay grows more likely

Tuesday, 22. October 2019 17:30

European equities closed higher on Tuesday as investors kept their eye on the latest developments surrounding Britain's exit from the European Union. A three-day debate in the British House of Commons kicked off earlier in the day, setting the stage for two separate votes later tonight. The first vote will be on whether the Withdrawal Agreement Bill for Prime Minister Boris Johnson's plan should proceed through Parliament in principle, while the second vote will decide whether Johnson should be allowed to push the legislation through the lower chamber by the end of the debate on Thursday.

Should he fail to secure a majority in the second vote, a technical extension to the current October 31 deadline will be likely.

The DAX ended the session 0.11% in the green with Continental AG topping the top performers' list, jumping 4.13%. The French CAC 40 gained 0.10% at the close as Publicis Groupe rose 2.03%. The FTSE 100 also closed the trading session in the positive territory, advancing 0.70%. Just Eat led the gains, skyrocketing 24.70%, after Prosus, the international internet assets division of Naspers, put in a $6.34 billion bid for the food delivery service, surpassing previous offer from Takeaway.com.

The British pound slid 0.06% against the US dollar, going for 1.29523 at 5:30 pm CET.

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Breaking the News / GG