Citi says chance of delay to Brexit now 'very high'

LONDON (Reuters) - U.S. investment bank Citi (NYSE: C) said on Tuesday there is now a "very high" chance that Brexit will be delayed past March 29, after lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin.

"After tonight's emphatic rejection, small tweaks won't get the deal over the line," economists from Citi said.

"The probability of Article 50 extension is now very high, and the stock of Article 50 revocation is rising too," they added, referring to the legal mechanism that triggered the exit process.

(Reporting by Andy Bruce; editing by Guy Faulconbridge)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Is the ECB’s hawkish shift just beginning to bite? UBS weighs in
• Australia sends drone specialists to join Nepal search as 36 citizens missing
• CIENA (CIEN) PT Lowered to $520 at Needham, 'We would be buyers on weakness'