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What to Watch: Fresh Brexit voting by MPs, easyJet warning, global stocks rally

Alanna Petroff
Senior Economics Correspondent at Yahoo Finance UK

Here are some of the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:  

Another round of Brexit voting

Members of parliament (MPs) are set to vote again on a range of different Brexit options on Monday evening in the hopes that a majority will back a single solution that could solve the nation’s Brexit deadlock.

Expectations are high that MPs may rally around the idea of leaving the European Union, but remaining within the bloc’s customs union.

Members of parliament are hoping to find a Brexit solution that can gain more support than prime minister Theresa May’s Brexit deal. Photo: ParliamentLive.tv

Prime minister Theresa May’s Brexit deal — which was approved by all 27 EU member states — was rejected three times by MPs.

Uncertainty remains around the possibility for a longer Brexit extension.

The default option remains that the UK falls out of the EU without a deal on 12 April, which is considered a hard Brexit and would be deeply damaging to both sides.

READ MORE: European parliamentary elections could cost the UK more than £100m

easyJet’s Brexit warning

One of Europe’s biggest budget airlines, easyJet (EZJ.L), warned that Brexit worries are hurting the airline.

The group said that its results in the second half of the financial year could be hurt by “macroeconomic uncertainty and many unanswered questions surrounding Brexit.” easyJet said this was contributing to “weaker customer demand in the market.”

Shares plunged by as much as 8% in morning trading, making it the worst performer on London’s FTSE 100 (^FTSE) index.

Higher fuel costs are hitting profits and with Brexit potentially impacting travel regulations and currency markets, customers are understandably waiting for more certainty before booking trips away,” George Salmon, an equity analyst at Hargreaves Lansdown, said.


Global stock market overview

European stock markets were rallying on Monday morning following a strong session in Asia.

Upbeat economic data from China and progress in US-China trade talks helped boost investor sentiment.

The UK’s FTSE 100, Germany’s DAX (^GDAXI), and France’s CAC 40 (^FCHI) were all rising by roughly 1% in morning trading. 

This comes after some key indices in Asia posted gains in excess of 1%. China’s benchmark Shanghai Composite (000001.SS) outperformed the pack with a rise of 2.6%. Hong Kong’s Hang Seng index (^HSI) also pushed up by 1.7%, while Japan’s Nikkei 225 (^N225) rose by 1.4%.

US stock futures were also pointing up in advance of the opening bell. The S&P 500 (ES=F), Dow Jones industrial average (YM=F), and Nasdaq (NQ=F) all look set to jump after markets open.