Theresa May under fire over Brexit new deal failure ahead of EU elections

The British Prime Minister is under increasing pressure to announce her departure from Downing Street after her fourth attempt of getting her Brexit deal passed has failed as EU elections get underway.

UK lawmakers are calling on the British Prime Minister Theresa May to set a date for her resignation after her new Brexit deal failed in parliament on Wednesday.

May’s latest failure to get her deal approved by British MPs comes ahead of EU elections, with UK citizens votes on Thursday expected to highlight how deeply divided the country remains over Brexit.

How will the Brexit deadlock be broken?

With the prime minister’s fourth attempt to break the deadlock deemed dead on arrival, British MPs are left to ponder an array of alternative options that includes holding a general election, a second Brexit referendum or bailing out of the bloc without a deal.

In the three years since the UK voted to leave the EU 52% to 48%, the country is no closer to leaving, with it still unclear how, when or even if Britain will leave the bloc ahead of the October 31 deadline.

Boris Johnson bookmakers’ favourite to succeed May

As the calls for May to step down grow louder, people have begun to place their bets on who will take her place, with bookmakers’ clear favourite being MP Boris Johnson.

Johnson was a prominent figure for the leave campaign in the build up to the Brexit referendum back in June 2016.

In a recent report, US-based investment bank JP Morgan raised its probability of the UK leaving the EU without a deal from 15% to 25% this week.

The bank also believes Johnson will be appointed prime minister, closely followed by a general election and a further delay to Brexit beyond the October 31 deadline.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.