European markets hold ground after new Brexit delay

LONDON: The pound steadied on Thursday and European stocks held firm after Britain and its EU partners agreed again to extend Brexit.

Traders breathed a sigh of relief but observers noted the reprieve was only brief with the agreement merely kicking the can down the road. Richard Falkenhall, forex strategist at Swedish banking group SEB, expressed doubts over a cross-party agreement. He added:"Although it is a six-month extension we believe that May will try to reach an agreement with the Labour soon enough to avoid British participation in the elections for the European Parliament, although we doubt she will manage this."

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