The pound hit its highest level against the euro since mid-2016 after Boris Johnson’s Conservatives won a resounding victory in a UK election run on the promise of Brexit by Jan. 31. More here:
NEW YORK - Equity markets globally rose and oil prices surged on Friday after China and the United States agreed on a “phase one” trade deal and U.S. President Donald Trump said Washington would suspend tariffs on Chinese imports scheduled for Sunday.
Trump tweeted that China agreed to many structural changes and massive purchases of agricultural, energy and manufactured products, while the U.S. will cancel some tariffs on a phased basis, China’s vice commerce minister, Wang Shouwen, said in Beijing. Johnson won a commanding majority in Britain’s Parliament, giving him the power to deliver Brexit, though trade talks with the EU are set to drag on for months, if not years.index gaining more than 2% at one point as a rally in utilities, retailers, housebuilders and banking stocks offset the drag from a jump in sterling.rose to 19-month high against the U.S.
Both MSCI’s gauge of global stock performance and the three main U.S. equity indices hit record highs.
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