Markets Live: ASX to open lower on late Wall St slide

Britain’s parliament has dealt Prime Minister Theresa May another Brexit black eye, with a defeat early on Friday (AEDT) for a government motion on her ‘Plan B’ that will deepen uncertainty and potentially crimp her ability to extract a better deal from the European Union.

The defeat came as a key member of the Bank of England’s interest-rate committee warned that the uncertainty around Brexit was costing the economy around £800 million ($1.45 billion) a week, as the slump in British business investment gathers pace.

Mrs May is in a race against time to secure changes from European leaders for her unloved Brexit deal, with the clock ticking down to March 29 – when the two-year ‘Article 50’ exit process lapses and Britain will leave the EU with or without a deal.

Hans van Leeuwen has the full story here.

Theresa May departs number 10 Downing Street.

Theresa May departs number 10 Downing Street.Credit:Luke MacGregor/Bloomberg

Good morning and welcome to Markets Live for Friday.

Your editor today is William McInnes.

This blog is not intended as investment advice.




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