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European stocks close lower as UK prepares for Brexit showdown; Sterling back above $1.20


Tuesday, 3 September 2019 23:20 WIB

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European stocks closed lower Tuesday, with British opposition lawmakers bidding to seize control of the House of Commons and stop the U.K. leaving the European Union without a deal on October 31.

The pan-European Stoxx 600 was down 0.35% to 379.81  at the closing bell, oil and gas stocks shedding 0.9% to lead losses as most sectors and major bourses ended the session in the red.

Sterling broke below $1.20 on Tuesday morning amid Britain's political uncertainty, sliding as low as $1.1967 to reach its lowest point against the greenback since the October 2016 flash crash. However, it recovered slightly to trade at $1.2088 by the end of the European session as rebel lawmakers applied for an emergency debate in parliament in the hope of thwarting a no-deal Brexit.

Source : CNBC


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