October 18, 2019 / 8:41 AM / a month ago

Goldman Sachs raises probability on Brexit deal to 65% after EU agreement

FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid

LONDON (Reuters) - Goldman Sachs said it had raised its estimate on the probability of a Brexit deal to 65% from 60% after Britain struck a new divorce agreement with the European Union that still needs British parliamentary backing.

The bank lowered its odds on “no deal” to 10% from 15% and left its odds of no Brexit happening at all unchanged at 25%, it said, adding that it maintained its base case that Britain will leave the EU with a deal by Oct. 31.

European Union leaders unanimously backed a new Brexit deal with Britain on Thursday, leaving Prime Minister Boris Johnson facing a battle to secure parliament’s support for the agreement if he is to take Britain out of Europe on Oct. 31.

Reporting by Tom Arnold, editing by Karin Strohecker

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