11/22/2018, 12:51 PM (Source: TeleTrader)
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FTSE falls with pound's gains on Brexit declaration

European stock exchanges were in the red on Thursday as trading was suspended in the United States for Thanksgiving day. The FTSE 100 extended losses, all but erasing yesterday's advance and underperforming other major peers, as oil prices fell and the pound's jump weighed on valuations of companies listed in London which depend on overseas income.

The European Commission approved a draft version of the political declaration on the future relationship between the European Union and the United Kingdom, however the administration in Brussels acknowledged Gibraltar and fishing rights as sticking points.

The British blue-chip index was 1.07% in the red at 12:46 pm CET. Fresnillo was the worst-performing item, losing 10.37% on legal uncertainties concerning its operations in Mexico. The German DAX fell 0.55%, the CAC 40 was 0.44% in negative territory and the FTSE MIB lost 0.29%. Sterling jumped 0.77% to $1.2872. The euro declined 0.51% to £0.88652.

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