Global stocks retreated from an all-time high and the pound weakened the most in three months on concern that Brexit talks could collapse. The pound slid 1.3% against the dollar with officials on both sides pessimistic about the prospect of a breakthrough. Banks and retailers led losses in the Stoxx 600 Index, while the export-heavy FTSE 100 Index climbed 0.5%. Investors are also closely monitoring for any sign that US lawmakers are nearing an agreement on another stimulus bill. “Any pullback from last week may be shallow though as overall, I think the market remains optimistic that we will get a fiscal deal and a Brexit deal this week.

Source: Mint December 07, 2020 11:37 UTC