The FTSE and pound might have been expected to thrive on news of an extension but instead they focused on what might come next.
Sterling, as well as UK and European equities, would usually be expected to thrive after news that the possibility of a no-deal Brexit had ended - at least for now.
Chris Turner, head of foreign exchange strategy at ING, said:"The extension is unlikely to improve business confidence"The rising probability of a change in Conservative Party leadership ahead of the new October deadline suggests a difficulty for EUR/GBP to move below the 0.85 pence level," he said. Elsewhere in Europe, the DAX in Germany dropped 0.3% to 11,867.35. France's CAC 40 rose 0.3% to 5,464.85.
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