Never gonna give EU up, never gonna let EU down
US indices are mixed going into the close, the Dow is slightly ahead, and the other two are slightly weaker.
We've just watched the British Parliament vote again on the Brexit dilemma. For your entertainment, we've provided the immediate headlines from Reuters news service...
At 07:31 AEST, Reuters reported:
"UK parliament backs amendment urging government to rule out no-deal Brexit."
Then, almost immediately, the same news service reported:
"British lawmakers vote down bid to prevent no-deal Brexit."
The seemingly more factual version arrived 20 minutes later, courtesy of the Financial Times:
"The British parliament voted 317-301 to back Theresa May's effort to renegotiate a Brexit deal with Brussels."
So, there we have it. Nothing has changed in the UK and the Prime Minister has Parliament’s backing to try to haggle a deal to exit the EU in an orderly manner.
To paraphrase Rick Astley, Brexit is no longer a case of "Never gonna give EU up, never gonna let EU down". It's now more a case of "Goodnight, farewell, auf Wiedersehen, goodbye."
Roll on March 29 — the scheduled exit date.
Meanwhile, index futures are 23 points higher, the Australian dollar is steady, as are bonds.
Alex Moffat is a director at Joseph Palmer & Sons.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.