FTSE 100, IBEX 35, CAC 40, DAX all green; PM May 0-1 UK's Supreme Court

Today's trading session has ended on a positive tone for European indexes as the FTSE 100 trading at 7163.87, up +0.18% on the day, having posted a daily high at 7190.15 and low at 7149.67. Later the IBEX 35 trading at 9371.90, up +0.72% having posted a daily high at 9378.30 and low at 9296.60, then the DAX trading at 11577.67, up +0.28% having posted a daily high at 11585.31 and low at 11538.05, and finally the CAC 40 trading at 4823.46, up +0.05% on the day, having posted a daily high at 4840.50 and low at 4816.73.

European equities were not pushed into the red territory amid UK's Supreme Court ruling against the British Government and PM May. The stage is now set for Round 2 in the ongoing 'Hard' Brexit saga which is about to get a new support character as Theresa May is scheduled to meet Donald Trump in what has been considered the sequel relationship between Ronald  Reagan and the 'Iron Lady"; Margaret Thatcher.

Article 50, just around the corner

Bloomberg reports, "May lost her argument that she alone could invoke Article 50 of the Lisbon Treaty as judges voted 8-3 against her. Having once hoped to avoid a vote for fear lawmakers would bog down her plans, she will now try to rush through a short bill, designed to keep her timetable on track and give as little scope for amendments as possible."

UK Supremes – Parliament Must Vote on Brexit

The report continues, "The legislation will have to go through five stages in each of the two chambers of Parliament, where supporters of leaving the EU are in the minority. Although it’s possible to pass emergency legislation in as little as a day, it is rare and the process can take months. There are votes at each stage, and lots of opportunities for dissenters to propose amendments. Both houses must agree on the wording of the final law."

Generali rose; BT cuts forecasts; easyJet 'hit and run'

Reuters reports, "Shares in insurer Generali were the biggest gainers, up 8.3 percent after the insurer bought 3 percent of Intesa Sanpaolo's share capital to fend off a reported takeover. Generali's biggest shareholder Mediobanca gained 7.4 percent. While basic resources were the biggest sectoral risers, gaining on the back of a weaker dollar. BT fell more than 16 percent after the telecoms firm cut forecasts for 2017 and 2018 after finding that inappropriate accounting behaviour in its Italian business went far deeper than previously thought. Tuesday's losses were poised to wipe out more than $8 billion off BT's market value."

The report continues, "Budget airline easyJet was another top faller, down 7.2 percent after reporting its first quarter earnings. A miss in fourth quarter earnings also weighed on Philips , which dropped 3.3 percent. The medical equipment maker also disclosed a conflict with the U.S. government over defibrillators it sold in 2015 and before."

The Great Divide in the bond market will heavily influence the FX market