The extent to which the Brexit talks have any day-to-day influence on the market will become clear in the days and weeks ahead, as negotiators from the UK and the EU seek to draw up departure terms while investors look on.
What you need to know
- Pound holds above seven-month euro lows as formal Brexit talks begin
- Dollar drifts against major rivals
- Xetra Dax 30 near record high
- European and Asian equities rise
- Oil prices back under pressure, with Brent holding $47
As trading on day one of the negotiations begins, the pound is 0.1 per cent weaker against the euro at £0.8767, within levels established over the last three sessions. It remains off the seven-month low it touched against the shared currency a week ago, on worries about political instability in Westminster in the run-up to the talks. Against the dollar, sterling is down 0.1 per cent at $1.2781.
On equities markets, the FTSE 250, the mid-cap equity index seen as more representative of the domestic UK economy, is up 0.3 per cent, led by Ocado, the food delivery business seen as a potential target amid bid…