Theresa May’s vote ‘capitulation’ boosts Irish shares

Sterling surged to its highest level in 21 months and shares in Irish companies most exposed to the UK climbed, as markets assessed that Theresa May had lifted the threat of a no-deal Brexit.

Her offer to the Commons to vote on delaying Britain’s exit from the EU or ruling out a no-deal Brexit, if her own withdrawal bill fails, marks “a capitulation” that has substantially reduced the risk of a no-deal outcome, Davy chief economist Conall Mac Coille said.