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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Merkel to Britain - EU freedoms must be respected for single market access

Reuters
German Chancellor Angela Merkel and Britain's Prime Minister Theresa May address the media prior to a meeting at the chancellery in Berlin, Germany, November 18, 2016. REUTERS/Michael Sohn/Pool

ESSEN, Germany (Reuters) - German Chancellor Angela Merkel told a party congress of her Christian Democratic Union (CDU) on Tuesday that Britain would not be allowed to cherry pick in its Brexit negotiations with the European Union.

"We will not allow any cherry picking," Merkel said to cheers from 1,000 CDU delegates in the western rust belt city of Essen.

"The four basic freedoms must be safeguarded -- freedom of movement for people, goods, services and financial market products. Only then can there be access to the single market."

(Reporting by Paul Carrel and Noah Barkin)