Britain’s FTSE 100 is seen to open 13points lower at 6,352 this morning as the excitement from fresh vaccine hopes wear off. This is despite hopes Britain was likely to strike a compromise that would see a Brexit trade deal with the EU thrashed out over the weekend. The Irish prime minister said both sides had softened their stance on the question of access to UK fisheries. Brussels sources said Britain was close to offering a compromise whereby EU fishermen were allowed generous access to UK waters for a limited transition period.
When a deal is finally struck, UK shares should surge ahead.
However, CMC markets analyst Michael Hewson said: “While it would be nice if that were the case, this seems unlikely, simply because it would go against everything we know about the brinkmanship that tends to characterise EU negotiations.
“The fat lady hasn’t even started to clear her throat yet, let along sing.”
Shares were set to continue their climbdown after reaching highs on Monday following news of the Moderna Covid-19 vaccines breakthrough as profit takers moved in.
The FTSE 100 was being called down 27 points at 6334 by traders on the IG Index platform.
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