Efforts are continuing to hammer out a Brexit deal Thursday as European Union leaders gather for a summit in Brussels.
Brexit talks on Wednesday resembled a rollercoaster ride with reports at times suggesting a deal had been reached only to be countered with others suggesting that stumbling blocks had been encountered, causing volatile moves in sterling and U.K. stocks.
As talks continued into Wednesday night, EU officials and leaders appeared positive that an agreement was possible, even as time was running before an EU leaders summit in Brussels Thursday. Michel Barnier, the EU's chief Brexit negotiator, said there had been "good progress" in talks Wednesday evening and European Council President Tusk said that "the basic foundations of this agreement are ready and theoretically we could accept a deal." German Chancellor Angela Merkel also said she was slightly more optimistic a deal could be reached.
Even if the EU agrees to a deal, U.K. Prime Minister Boris Johnson still needs to gain domestic support.
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