European Shares Jumped, Supported by Signs of Near Brexit Deal

European stocks headed towards a third consecutive session of gains on Thursday, December 24th, as a trade deal tied to Britain’s exit from the European Union became imminent, just a week before the final Brexit.

The European Stoxx600 index rose 0.1%, seeming to be on its way to the start of the Christmas holidays, and has recovered all the losses it incurred at the beginning of the week, while the FTSE100 in London rose 0.2%.

After months of bickering, and amid warnings of not reaching an agreement, sources in London and Brussels said that Britain and the European Union were on the cusp of a trade deal, which would prevent them from a troubled separation.

Sources told Reuters that British Prime Minister Boris Johnson held a late-night conference call with government ministers and negotiators in Brussels to consider a set of legal texts related to trade.

Bank shares, sensitive to the news of Brexit, rose 0.6% to lead the gains in Europe.