European markets rise on news of the deal between Brussels and London

At the auction on Thursday, stock markets in Europe showed growth. This happened after the news came out that an agreement had been reached between the EU and the UK, by reports eurnews.net.

The Stoxx Europe 600 Index rose 0.12% yesterday to reach 395.98 points. The British FTSE 100 index showed an increase of 0.1%. Shares of the largest British banks rose in price. A week before the end of the transition period, London and Brussels still managed to work out an agreement acceptable to both sides and relieve tension on this matter.

The deal makes it possible to exclude the introduction of customs duties after January 1. The document requires ratification by the EU and UK parliaments. British MPs will vote on December 30th. The European Parliament will not have time to ratify the agreement before the New Year.

In this regard, the European Commission proposed to make a decision on the temporary application of the terms of the deal. According to experts, the conclusion of the agreement is certainly good news for the near future. In the long term, Brexit-related problems may arise.