Shanghai — The pound jumped and Asian shares rallied on Tuesday after the European commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. European commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK legislators would not get a third chance to endorse it. Sterling, which had risen ahead of the talks between May and Juncker, extended gains in the hope the changes may be enough to sway rebellious British MPs who have threatened to vote down May’s plan again on Tuesday. The pound was up 0.5%, buying $1.3215 and taking its gains over two days to more than 1.5%. A lower likelihood of crashing out of the EU with no Brexit deal could help to inject some bullish sentiment into equity markets by eliminating one of the three major concerns of global investors, alongside trade and slowing global growth, said Greg McKenna, strategist ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now