British banks will escape much harm, but a ‘no deal’ outcome for the UK, in its Brexit talks with the EU, would “significantly” damage the British economy and be a “dramatic” hit for its airports, aviation, and ports, in particular, Moody’s Investors Service said.

Irish bonds outperformed its eurozone peers in the first trading day after Moody’s Investors Service upgraded Ireland’s debt pile and delivered a better-than-expected scorecard on the country’s economic outlook.