BRITAIN – MARKETS – Sterling extends gains as Theresa May seeks EU approval for her Brexit deal

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UK shares sought to join a global equity recovery as the pound stabilised above 20-month lows, although banks and other domestically exposed stocks fell further as uncertainty grew over Britain’s exit from the European Union, after British Prime Minister Theresa May postponed a parliamentary vote.

The ultimate outcome will shape Britain’s $2.8 trillion economy and have far-reaching consequences for the unity of the country.

With the European Union refusing to renegotiate the deal, lawmakers are doubting her chances of winning big changes.

May’s abrupt decision opened up a range of possibilities from a Brexit without a deal, a last-minute agreement or another referendum on EU membership.

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