UK: pound stalls\, FTSE unmoved by Brexit delay

Time to reflect for Brexit Britain after it's granted an extension to its EU departure date.

Six months to the end of October should be adequate for politicians to settle differences and decide on the country's future.

Another view is that nearly three years on from its Brexit referendum, they've already had long enough.

(SOUNDBITE) (English) COMMUTER, CAROL, SAYING: "Well nobody's in control of Brexit.

They just need to get on with it and get it done one way or another." The same split in thinking applies over sterling.

A decision to delay Brexit means Britain won't crash out of the bloc without a deal - at least not yet.

But with little clarity on when, how or even if Brexit will happen, bets on a sharp move in the pound were scarce.

(SOUNDBITE) (English) CMC MARKETS UK CHIEF ANALYST, MICHAEL HEWSON, SAYING: "It's the worst of all worlds simply because I think most people have been expecting an extension of maybe a year which would give the UK time to come to some form of consensus on a Brexit position, the fact is that a six month window gives the UK no time whatsoever to really arrive at any sort of consensus given that they've been deadlocked, the political parties have been deadlocked for the last six months." London-listed housebuilders and airlines were boosted by the Brexit delay.

If, like sterling, the FTSE 100 remained flat as fears over the global slowdown took over crept in.

Europe's main bourses also struggled to make gains.

(SOUNDBITE) (German) CHIEF TRADER CLOSE BROTHERS SEYDLER BANK, OLIVER ROTH, SAYING: "The advantage of the extension is definitely that time has been gained.

The alternative, a 'no deal Brexit', would have definitely been catastrophic not just for the economy, but also for financial markets.

The disadvantage of course is that absolutely no problems are solved." Theresa May now faced with getting her own EU withdrawal deal through parliament in the weeks and months to come.

Or in the face of stiff resistance, brokering an alternative.

That is, if, as some even in her party hope, time doesn't run out on her prime ministership first.