Sterling Up On Brexit Extension

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1. Sterling Up On Brexit Extension

British Prime Minister Theresa May welcomed the European Union’s decision to delay Brexit on Friday, saying that lawmakers in the British parliament now had clear choices about what to do next. However, The EU gave the extension under one condition: that Mrs May’s exit plan is approved by the Parliament. This means that Britain could leave the European Union without a Brexit deal on April 12 if lawmakers reject May’s agreement with Brussels next week. The Cable (GBP/USD) managed to keep its recovery mode intact after the European Union (EU) agreed to give May two weeks’ Brexit extension. GBP/USD was last seen trading 0.3 percent higher at $1.3146 as of 8:00 GMT this morning.*

2. Electronic Arts Dominates The Markets

Electronic Arts was among the biggest risers on the S&P 500 on Thursday March 21, popping some 8.09% to close at $104.88. Shares gained $7.85 a piece yesterday. Electronic Arts’ (EA) Apex Legends remains the key potential growth driver through 2019, followed by the launch of Anthem, a title that has thus far met expectations.**

3. Apple Becomes the World’s Most Valuable Public Company

Apple has breezed past Microsoft to reclaim its title as the world’s most-valuable public company. Shares of the consumer-electronics titan rallied close to 4% Thursday, giving Apple a market cap of about $916 billion — surpassing its computing archrival’s $908 billion valuation. Needham upgraded Apple stock from a “buy” to a “strong buy” on Thursday, citing the value of Apple’s ecosystem of hardware, the growth potential of Apple’s anticipated video-streaming services and the company’s strong network effects. The investment bank also raised its price target from $180 to $225. Apple’s stock AAPL added almost 4% yesterday to close at $195.09.***

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*Source: Investing Mar 22, 2019 2:48 AM ET
**Source: Reuters Mar 22, 2019 3:53 AM ET
***Source: CNBC Mar 22, 2019 03:07 AM ET

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