Sources in London and Brussels said a deal was close as British Prime Minister Boris Johnson held a late-night conference call with his Cabinet of senior ministers
An accord would ensure that the goods trade that makes up half of annual EU-UK commerce, worth nearly a trillion dollars in all, remains free of tariffs and quotas
The domestically focused FTSE 250 .FTMC fell 2% as the latest development in the pandemic added to investors' worries
The broader markets ended in the red for second straight day.
British Prime Minister Boris Johnson has underlined the post-Brexit trade negotiations between Britain and the European Union (EU) were now "in a serious situation"
E-Mini futures for the S&P 500 responded by rising 0.5%, while March Treasury bond futures slipped 5 ticks
Britain quit the EU in January but remains an informal member until December 31
British PM Johnson said there was "a strong possibility" Britain and the EU would fail to strike a new trade deal, but vowed to do whatever he could to avoid a tumultuous split in three weeks
The Canadian government has introduced a bill to implement the newly inked post-Brexit trade agreement with the United Kingdom, Global Affairs Canada said in a statement
British PM and the EU's chief executive gave themselves until the end of the weekend to seal a new trade pact after failing to overcome persistent rifts over a "frank" and "lively" dinner of turbot
Talk of a chaotic British split from the European Union grew with just three weeks left to break a deadlock in trade deal negotiations
British and EU leaders will meet face-to-face to try to seal a post-Brexit trade deal after failing again to narrow their differences recently
Since Britain formally left the EU on Jan. 31, negotiators have missed several deadlines for a deal with the world's largest trading bloc before a status quo transition period ends on Dec. 31
The Commission has held off on updating Brexit contingency plans amid the final push for a deal.
There has to be a breakthrough this week in talks for a post-Brexit trade agreement, British and Irish ministers said, ahead of the December 31 expiry of Britain's transition period for leaving
Britain will attempt to reassure business leaders it appreciates need for clarity on rules outside of the EU by setting up a task force to discuss challenges 50 days before the transition period ends
Far from backing down, however, the government said it would retable the contentious clauses when the bill returns to the House of Commons
British PM Boris Johnson said a trade deal with the European Union was "there to be done", suggesting his view that the agreement's broad outline was already "pretty clear" was shared in Brussels
The statement came after a call between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen
With talks between the UK and EU still deadlocked after the British prime minister nearly-but-didn't-quite stage a walkout Friday, that's the only way EU officials say they can secure trade deal