CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Theresa May pulls Brexit vote in parliament amid fears of defeat

The UK Prime Minister has cancelled the planned Brexit vote originally scheduled to take place in parliament on Tuesday, as aides warn May that her deal would be defeated if she went ahead.

Aaran Fronda AFronda_IG
Financial Writer, London

Publication date : 2018-12-10T14:59:50+0000

UK Prime Minister Theresa May

Source: Bloomberg

Theresa May has chosen to terminate her planned Brexit vote before the House of Commons, which was originally scheduled to take place on Tuesday, after several chief aides warned that her deal would suffer a devastating defeat.

On Monday morning, Downing Street attempted to quell rumours of May’s decision to abort her planned Brexit vote in parliament, stating that the proceedings would go ahead ‘as planned’ only for the prime minister to announce her plan to postpone the vote.

Pound tumbles as May bails on Brexit vote

Shortly after May announced she will pull the Brexit vote in parliament, the pound fell 0.5% against the dollar to $1.2661 - hitting an 18-month low.

The pound also saw its position against the euro eroded further, with it falling to €1.1074 – representing its lower level since September.

Corbyn renews calls of ‘no confidence’ in May

Labour opposition leader Jeremy Corbyn took to social media after May announced she will delay the Brexit vote in the House of Commons, calling her Brexit deal ‘so disastrous’ that the government was forced to take the ‘desperate step of delaying its own vote at the eleventh hour’.

‘We have don’t have a functioning government,’ he tweeted. ‘While Theresa May continues to botch Brexit, our public services are at breaking pint and our communities suffer from dire under-investment.’

‘Labour’s alternative plan for a jobs first deal must take centre stage in any future talks with Brussels,’ he added.

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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