British Prime Minister Theresa May and European Commission President Jean-Claude Juncker leave to discuss draft agreements on Brexit, at the EC headquarters in Brussels, Belgium November 21, 2018. REUTERS/Francois Walschaerts
BRUSSELS/LONDON (Reuters) - Britain and the European Union have agreed a draft text setting out a close post-Brexit relationship, though wrangling with Spain over control of Gibraltar must still be settled before EU leaders meet on Sunday in order to rubber-stamp the pact.
Thursday's news sent the pound nearly 1 percent higher on relief among investors that 18 months of tense and tortuous negotiation were bearing fruit, keeping Britain close to its biggest market and ensuring nothing much will change during a transition period due to last until at least the end of 2020.
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