Brexit talks stall on final day before crucial EU summit – CNBC

Brexit negotiations have hit a stumbling block on the last day of talks between the U.K. and EU ahead of a crucial summit later this week.

Sterling and U.K. stocks fell on media reports, which cited unnamed EU diplomats, that talks had stalled over a future trade deal and fair competition clauses, as well as renewed opposition to the proposed deal by Northern Ireland’s Democratic Unionist Party (DUP).

Irish Prime Minister Leo Varadkar also confirmed that there were still outstanding issues, particularly surrounding Northern Ireland, that were “yet to be resolved” and that talks may need more time.

“There is a pathway to a possible deal but there are many issues that still need to be fully resolved, particularly around the consent mechanism and also some issues around customs and VAT,” Varadkar said in a speech, according to Reuters.

He said he had spoken to his British counterpart Boris Johnson Wednesday morning and said progress in talks had been made, nonetheless. “I do think we are making progress but there are issues yet to be resolved and hopefully that can be done today.”

He added that there was the possibility of an additional EU summit before the departure date of October 31 if necessary.