Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Goldman Sachs raises chances of no-deal Brexit after UK PM's late reprieve

Published 03/22/2019, 03:41 AM
Updated 03/22/2019, 03:45 AM
© Reuters. The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York

© Reuters. The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York

LONDON (Reuters) - Goldman Sachs (NYSE:GS) on Friday lowered its expectations of UK Prime Minister Theresa May's Brexit deal getting ratified, and hiked its estimate of the chances of a "no-deal" exit from the European Union.

The changes to the bank's previous predictions came after the EU agreed to grant the UK a short reprieve, until April 12, before Britain could lurch out of the EU if May fails to persuade lawmakers to back her withdrawal treaty.

"By postponing Brexit day by at least a fortnight, the UK and the EU have kept all options in play, for now," wrote Goldman Sachs analysts.

They cut the chances of May's deal being ratified to 50 percent from 60 percent, and raised the chances of a "no-deal" Brexit to 15 percent from 5 percent.

© Reuters. The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York

Goldman Sachs' estimate of the probability of Brexit not happening at all remained unchanged, at 35 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.