UK's Frost: We want to negotiate a new balance with EU

David Frost, the British minister responsible for implementing the Brexit deal, noted on Wednesday that they have not been able to unlock the potential of the UK-EU partnership, as reported by Reuters.

Additional takeaways

"We have tried to operate the Northern Ireland protocol in good faith."

"More than 200 suppliers have decided not to sell to Northern Ireland."

"Some avenues for progress with the EU have been found."

"We have considered all our options."

"We want a new path, we want to negotiate a new balance with the EU."

Market reaction

The UK's FTSE 100 Index clings to strong daily gains following these comments and was last seen rising 1.3% on the day at 6,970.