European stocks turn higher as leaders declare Brexit deal

Associated Press

European stocks turned higher Thursday as key political leaders say they’ve reached a deal for U.K. to exit the European Union.

The pact, announced by U.K. Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker, will still need ratification from national parliaments, with the U.K. Parliament set to vote on the deal Saturday with a Northern Irish political party still withholding support for now.

The Stoxx Europe 600












SXXP, +0.70%










rose 0.68% to 396.15.

The German DAX












DAX, +0.91%










 jumped 1.01% to 12798.08, the French CAC 40












PX1, +0.57%










  added 0.44% to 5721.88 and the U.K. FTSE 100  












UKX, +0.67%










 rose 0.59% to 7210.52.

The British pound












GBPUSD, +0.6236%










 shot through $1.29 on the deal. U.S. stock futures












ES00, +0.49%










 also rose.

Companies that rallied on the tentative deal included British Land












BLND, +3.84%










 , which rose 4%, and Barclays












BARC, +3.15%










 , which rose 3.2%.

Other movers on Thursday included Ericsson












ERIC.B, +7.64%










 , as the Swedish telecommunications equipment maker lifted its margin forecast.