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LONDON, Oct 17 (Reuters) - Sterling surged more than 1% and
British share prices rallied on Thursday after British Prime
Minister Boris Johnson and European Union officials said a
Brexit deal was done.
European Commission President Jean-Claude Juncker said
Britain and the EU had agreed a new Brexit deal, and he
recommended that the EU summit endorsed the agreement.
The pound jumped as high as $1.2988 GBP=D3 , a five-month
high. Against the euro it rose sharply to 85.77 pence
EURGBP=D3 .
The euro was also buoyed by the news, gaining 0.5% versus
the dollar to $1.1125 EUR=EBS .
British and European stocks rose across the board, with the
UK mid-cap index up more than 1.1% .FTMC . Germany's DAX
.GDAX rallied 0.5% while Ireland's .ISEQ gained 0.3%.
Euro zone government bond yields rose DE10YT=RR , while the
10-year British gilt yield was up 7 basis points, at 0.793%, its
highest since July GB10YT=RR .