Europe Markets: European stocks turn higher as leaders declare Brexit deal

Associated Press

European stocks turned higher Thursday as key political leaders say they’ve reached a deal for U.K. to exit the European Union.

The pact, announced by U.K. Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker, will still need ratification from national parliaments, with the U.K. Parliament set to vote on the deal Saturday with a Northern Irish political party still withholding support for now.

The Stoxx Europe 600 SXXP, +0.43% rose 0.68% to 396.15.

The German DAX DAX, +0.54%  jumped 1.01% to 12798.08, the French CAC 40 PX1, +0.18%   added 0.44% to 5721.88 and the U.K. FTSE 100   UKX, +0.53%  rose 0.59% to 7210.52.

The British pound GBPUSD, +0.3196%  shot through $1.29 on the deal. U.S. stock futures ES00, +0.36%  also rose.

Companies that rallied on the tentative deal included British Land BLND, +2.74%  , which rose 4%, and Barclays BARC, +1.98%  , which rose 3.2%.

Other movers on Thursday included Ericsson ERIC.B, +7.54%  , as the Swedish telecommunications equipment maker lifted its margin forecast.

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