Sterling fell while other markets were unperturbed after British Prime Minister Theresa May, in a key-note speech, outlined the UK’s plans to add new life to the Brexit talks by committing to stay and pay its way in the EU for a transitional period of two years.

Global investor confidence rose in December compared with the previous month as investors put more money into risky assets, according to the US investment bank State Street Investor Confidence Index.

Stocks fluctuated before closing modestly higher today as oil prices neared $66 a barrel despite lower-than-expected damage estimates from Hurricane Rita.

Wall Street wobbled through an indecisive session today, rallying late in the day and ekeing out a modest gain after the price of oil fell back from US$66 (€53.99) a barrel.

Ian King, Bloomberg