Brexit and retail news may revive quiet pre-Christmas Wednesday

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‘Christmas Eve Eve’ is set to be a rather quiet Wednesday unless EU and UK negotiators finally wrap up a Brexit deal. Agreement hopefuls rejoiced on Monday night after it emerged that Downing Street had made a major counter offer regarding fishing access. The UK negotiators changed their demands to a 35% reduction in the catch by value in British waters instead of the 60% initially put on the table. It was still below the 25% reduction demanded by Europe but it was enough to unlock discussions, according to media reports. Britain is still struggling after the coronavirus (COVID-19) mutant strain discovered in the country last week caused several European countries to ban travel corridors, though on Tuesday there were talks of a potential relaxation of restrictions on cross-Channel trade with the UK and France which is expected to restart freight traffic. Retail watchers are still awaiting news from the collapsed fashion group Arcadia, which fell into administration a month ago. Deloitte have received around 30 expressions of interest for the Topshop and Burton owner, with the deadline for the first round of bids set for last Sunday. After Australian firm City Chic Collective snapped up the group’s plus-sized brand Evans on Monday, investors could hear more about the other high street names soon. Significant announcements expected on Wednesday, December 23: AGMs: easyJet PLC (LON:EZJ), Avation PLC (LON:AVAP)
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