Stocks Up Amid Brexit News

Stocks are up amid some good news regarding Brexit.

The stock markets reacted positively to news that British Prime Minister Theresa May secured an improved offer from the European Union. Further news surrounding Bank of America’s buy rating for Apple and Nvidia’s multi-billion dollar offer for Mellanox have likely played a roll as well.

Stocks rose worldwide on Tuesday morning as news broke of a secured deal being reached between the UK and the EU. The new deal is speculated to have enough backing to win the parliamentary vote scheduled for Tuesday night. The new deal allows the UK to step back if the EU doesn’t replace the “Irish backstop.” The Irish backstop is an arrangement that was meant to create a hard Irish border, alongside a future trade deal.

As of 9:05am, Asian stocks rallied and Japan’s Nikkei rose 1.8% while Hong Kong’s Hang Seng rose 1.5%. The Shanghai composite index rose by 1.1% as well. US stocks were also up amid good news. European markets were less fazed by the news, but rose marginally in the DAX, Euro Stoxx 50 and FTSE 100.

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