European Market Review
European stocks advanced this morning after British opposition defeated Prime Minister Boris Johnson’s government in a vote to seize control of parliamentary business.
Britain’s opposition Labour Party opposed any of the plans offered by Prime Minister Boris Johnson to call for a national vote before the Brexit deadline expires in October, 2019.
Marks and Spencer will be relegated from the FTSE-100 index. This is the first time ever the company has not been a FTSE 100 member since the index was launched in 1984.
The pan-European Stoxx 600 added 0.8% by late morning, autos surging more than 2% to lead rallies as all sectors.
The GBP also added some ground this morning, soaring $1.2107 after registering a massive retreat to a bottom of $1.1958, its lowest since an October 2016.
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