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European markets open flat as cautious traders await Brexit showdown

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A screen shows a graph showing a dip in the value of the Great British Pound Sterling against the US Dollarthe Traders work at the offices of CMC Markets in Canada on December 10, 2018 before Britain's Prime Minister Theresa May makes a statement in the House of Commons announcing the government's intention to delay the 'meaningful' vote on the Brexit withdrawl agreement. - British Prime Minister Theresa May on December 10, 2018 postponed a parliamentary vote on her Brexit deal to avoid a crushing defeat, saying she would return to the EU for further talks in a perceived sign of weakness that sent the pound plunging. (Photo by Daniel SORABJI / AFP) (Photo credit should read DANIEL SORABJI/AFP/Getty Images)

European markets opened flat this morning, as traders remained cautious ahead of a crucial three days for Prime Minister Boris Johnson’s Brexit deal.

The FTSE 100 is trading down at 0.2 per cent, with Anglo American and Glencore taking the biggest gains while Reckitt Benckiser leads the fallers after posting mixed results.

The Dax and Cac were down 0.07 per cent and 0.4 per cent respectively.

Read more: Johnson’s Brexit deal faces parliamentary hurdle

The pound has been showing slight volatility since the opening bell, with the price of sterling hovering below $1.30.

Investors are keeping a keen eye on events in Westminster today, as the government’s Brexit deal faces its first parliamentary hurdle.

Johnson is attempting to push through the Withdrawal Agreement Bill, which was published last night, in just three days.

Asian markets overnight showed slightly more optimism, with the main markets ticking up on hopes of an improvement to US-China relations.

Read more: Traders braced for busy week

South Korea’s Kospi (KOSPI) rose 1.1 per cent, while Hong Kong’s Hang Seng Index (HSI) climbed 0.1 per cent.

China’s Shanghai Composite Index (SHCOMP), was about flat during afternoon trading.

Japanese markets were closed for a public holiday.