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Europe is trading lower, focusing on the brix

2019-01-14 09:40 am | Resource: News | No Views : 301

 European markets fell on Monday amid concerns over tomorrow's vote in the House of Commons over Britain's withdrawal agreement Brexit. Prime Minister Theresa Mae is expected to say later in her speech to the House of Commons that Parliament is likely to prevent Brixset from allowing London to leave the EU without reaching an agreement.

The EU sends a reassuring letter of support to the UK

The European Union will issue a series of reassurances on the controversial Irish support clause for the United Kingdom later in the day, REE reported on Monday. The message, which will be sent jointly by the presidents of the Council and the European Commission, Donald Tusk and Jean-Claude Juncker, will say that support is not the preferred method of the union to avoid the difficult borders on the Irish island. The letter also says that the EU is not trying to undermine the Good Friday agreement through support, nor does it want to use the condition in the secret "Northern Ireland".

Just one day before the decisive vote on the Brexit Agreement in the British Parliament, the letter again ruled out the possibility of renegotiating or supporting the agreement, while also rejecting a request from the United Kingdom to limit the time period of the paragraph to one year.

Meanwhile, UK Prime Minister Theresa May is due to issue a statement to the House of Commons later in the day in a final bid to persuade MPs to agree to the withdrawal agreement she negotiated with the European Union.

German Questions Watch Siemens - The Sixty

Germany's competition watchdog has informed the European Commission (EC) in a recent letter that it shares the concerns of the latter over the proposed merger of Siemens-Alstom, various media reported on Sunday.

The German competition watchdog told the European Commission that it had reservations about the potential deal and that it understood and faced the same concerns as the European Commission.

Germany's competition watchdog also said it did not believe the two companies' remedies in December had eased competitive concerns surrounding the issue.

The former European Commission has said that the two companies' agreement may adversely affect competition. A decision on the case is due by February 18.

European Stocks Open
  • The DAX  fell 0.54% at 9:15 am with the Wirecard AG losing 2.0% at 9:16 CET.
  • The FTSE 100 was down 0.44% at the same time.
  • The CAC 40 index was 0.67% at 9:15 am CET. Atos fell 2.86% at 9:13 CET.

The Euro surged 0.11% against the Dollar to change it at 1.1475 at 09:17 CET.

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