Britain's Brexit Deal and OPEC's Vienna Summit - This is What You Need to Know

European stocks opened mixed following Wall Street's record-setting session

Author:: Edward Hardy
Publish date:: Nov 29, 2017 4:57 AM EST

This is what you need to know on Wednesday:

1. European stocks opened mixed following Wall Street's record-setting session. However, a stronger pound is holding down gains in the United Kingdom following reports of a breakthrough on Brexit talks.

2. Britain & the European Union have reportedly reached a deal over the Brexit 'divorce bill'. The EU gave the U.K. a deadline of Monday, Dec. 4, to make significant progress on three key elements - financial obligations, citizens' rights and the Irish border -- if EU leaders were to give a green light at a summit on Dec. 14-15.

3. The pound hit a two-month Wednesday after reports about the potential deal surfaced. The pound hit a high of $1.3441 in Wednesday trading, the highest since Sept. 29. The currency was up 0.48% against the dollar by 09:30 London time and changing hands at $1.3413.

4. The London Stock Exchange Group (LNSTY) said Wednesday that CEO Xavier Rolet would immediately leave the group and that chairman Donald Brydon would not stand for re-election at its next annual meeting, putting an end to a leadership controversy that rose all the way to the Bank of England.

5. Global crude prices slid in overnight trade amid reports that Thursday's OPEC leaders' summit in Vienna may not yet have an agreed consensus to extend the current pact on production cuts -- which are currently taking 1.8 million barrels from the market each day -- from their March deadline into the end of next year.

Watch More with TheStreet:

Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.