Tuesday, 28th August: In an attempt to reassure the public that a no-deal Brexit wouldn’t be as damaging as some members of her own party have recently suggested *cough* Hammond… PM Theresa May passed on the message to reporters, saying that it “wouldn’t be the end of the world” if they failed to agree on a deal with the EU before the deadline which is around seven months away, and that no deal is better than a bad one anyway.
Tuesday also marked the day of Theresa May’s visit to South Africa with plans to boost trade ties and create jobs for the younger generation in African economies, to be supported by her £4bn pledge. During her three-day visit, she will also stop by at Nigeria and Kenya, which will be the first visit by a UK prime minister to Kenya since 1988.
Her £4bn pledge was one of a few of the bold statements she made on the day, including her goal to push the UK to be the largest contributor amongst the G7 in Africa by 2022.
It has been suggested that the motivating factor behind May’s visit to Africa though, which is the first time in five years a prime minister from the UK has visited the continent, was prompted by the deepened need for the UK to strengthen its ties with others around the globe as its departure from the EU creeps around the corner.
The FTSE 100, miners in particular, have had a good start to the week after a long weekend off following the final bank holiday before Christmas, largely due to the weakening in the US dollar during the day which lifted metal prices and consequently mining stocks. The FTSE 100 ended the day 0.52% higher at 7617.22, allowing them to finally gain some momentum and push past 7600 having struggled to do so last week.