It’s a deal ! UK and EU sign historic trade agreement
On Christmas eve, amid the turmoil of tier 4, Boris Johnson has secured a trade deal with the EU giving it tariff free access to European markets. After 9 months of talks both sides were able to find a compromise on the final stalling point of fishing rights and thus complete the deal. Many believe the deal is the least bad option but at least it’s a trade agreement designed to benefit both the UK its EU partners in allowing the freedom of goods and services to continue. With many in the market being off for the holiday volume was light but the UK market saw a bounce in mid cap domestic stocks and the pound. Alas, much of the positivity around a deal had forced the pound higher in the last few weeks so on the day of the actual agreement the moves were not as big as some would have hoped for.