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50% chance of UK leaving EU without deal, BNP Paribas says

There is a 50% chance that the U.K. will leave the EU without a deal, up from 40%, due to a volatile political environment and crunched timelines, according to French bank BNP Paribas SA, Reuters reported.

The lender's research team said the result appeared to be leaning in a single direction in the absence of an effective counter-balance, with members of Parliament also not actively trying to avoid a disorderly outcome, Reuters noted.

The U.K. will leave the EU on Oct. 31 and the exact terms of a deal have yet to be negotiated.