The UK Labour Party announced on Friday that the talks with the UK Government over Brexit have ended. According to information from Mr Jeremy Corbyn “the talks have now gone as far as they can” and that the Party did not see that the compromise would have reached from both sides.
The pound slipped after the news and was trading as low as 1,275 dollars and 1,142 against euros. One of the reason for the announcement was also the speculation of the possible successor to Prime Minister Theresa May during the summer time. According to Labour Party, the increasing concern than any deal would have had risks to be accepted by the possible successor to Prime Minister.
The London Stock Exchange closed down for the week, losing 0,07 % to 7348 points. Other European markets were trading also down, DAX index down 0,58% to 12238 points and CAC40 down 0,18 % to 5438 points.