In European Equity Markets the pan-European Stoxx 600 ended 0.12 percent lower than its previous closing price, with major bourses and sectors pointing in opposite directions. Europe’s telecoms stocks were among those to lead the losses, down 0.94 percent amid earnings news. BT posted weaker-than-anticipated figures over the first three months of the year and announced plans to cut 13,000 managerial and back-office jobs. Shares of the company were 7.5 percent lower for the day. In banking, RBS rallied nearly 4 percent after it agreed to pay a smaller-than-anticipated $4.9 billion to resolve a long-running investigation into its sale of mortgage-backed securities.

In Currency Markets the U.S. dollar fell on Thursday against a basket of currencies, holding below its 2018 peak, as a smaller-than-expected increase in consumer prices reduced bets that inflation is accelerating, which could push the Federal Reserve to hike interest rates faster. The British pound hit a four-month low versus the greenback after the Bank of England left key borrowing costs unchanged but reduced its growth and inflation outlook for 2018 and 2019. The dollar index .DXY was down 0.1 percent against a basket of six major currencies at 92.931. The British pound was down 0.4 percent at $1.3495 after falling to $1.3460, the lowest level since Jan. 11 after the latest BOE statement.

In Commodities Markets crude oil fell on Thursday, giving up earlier gains as investors took profit on a rally triggered by potential disruption to oil flows from major exporter Iran in the face of U.S. sanctions. The United States said on Tuesday that it plans to impose new sanctions against Iran after abandoning an agreement reached in late 2015 that curbed Tehran’s nuclear activities in exchange for removal of U.S. and European sanctions. Brent crude futures fell 29 cents to $76.92 a barrel, having risen earlier in the day to $78, their highest since November 2014. U.S. West Texas Intermediate crude futures were last down 18 cents at $70.96.

In US Equity Markets the Dow was on track for sixth day of gains and the S&P 500 edged past a key technical level after tepid inflation data cooled worries of faster interest rate hikes. The S&P 500 was up 0.67 percent, at 2,715.80. The Nasdaq Composite was up 0.70 percent, at 7,391.58. The S&P technology index rose 0.9 percent, led by Apple, Facebook and Alphabet. Qualcomm rose 2.6 percent after the chi-pmaker approved a new $10 billion share buyback program. Nvidia, which is set to report earnings after the closing bell, was up 1.1 percent. Wells Fargo rose 0.8 percent after the lender said it expects efficiency efforts to cut expenses by $2 billion annually in 2018 and 2019.

In Bond Markets U.S. Treasury yields fell on Thursday as a smaller-than-expected increase in the consumer price index in April reduced fears that domestic inflation is picking up steam as the labor market tightens. The 10-year Treasury yield fell to 2.964 percent in morning trade, after having broken below 3 percent Wednesday. The yield on benchmark 10-year Treasury notes was 2.964 percent, down 4 basis points from Wednesday’s close. The 30-year yield was 3.129 percent, down 2.5 basis points from its last close. The two-year yield shaved off 1.2 basis points and was last at 2.518 percent.