UK Prime Minister Theresa May delivered her keynote speech on Brexit

Theresa May.pngShe said that the UK government will put the Brexit deal it agrees with the European Union to a parliamentary vote. She also vowed to make a ‘truly Global Britain’. “I want this United Kingdom to emerge from this period of change stronger, fairer, more united and more outward-looking than ever before. I want us to be a secure, prosperous, tolerant country, a magnet for international talent,” May said.

The FTSE 100 traded negative after the speech. However, the sterling was up by more than 2.8 percent against the U.S dollar, putting it on track for its biggest daily increase since 1998.

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Source: CNBC, 17 Jan

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UK’s FTSE 100 Defies Brexit Blues to Charge into Bull Market

FTSE 100 Bull MarketThe FTSE 100 charged into bull market territory Monday and the pound spiked above $1.30 after Theresa May won the race to succeed David Cameron as Prime Minister.

A third day of gains helped push the UK’s FTSE 100 Index into bull-market territory.

After recovering from its post-Brexit plunge in just four days, the gauge of UK megacaps continued its rally, and is now up 21% from its February low. A dramatic plunge in the pound has made the gauge’s multinational companies more attractive since the country’s vote to leave the European Union. Analysts have joined investors and strategists in taking note, boosting profit-growth estimates for FTSE 100 members by about 4.5% in just over a week, the biggest such upgrade in more than a decade.

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