In European Equity Markets the pan-European Stoxx 600 finished up by 0.1 percent with varied sentiment across sectors. Country markets differed too with small gains in the U.K.’s FTSE 100, Spain’s IBEX, and Swiss SMI offset by losses in France’s CAC 40 and Germany’s DAX. Banking stocks outperformed most peers on the back of positive earnings. Societe Generale’s shares were up by 2.1 percent after beating analysts’ forecasts in the third quarter of the year. Commerzbank rose above 5.4 percent despite posting a 53 percent decline in net profit.

In Currency Markets the US dollar rose on Thursday, pulling further away from 2-1/2 week lows hit on Wednesday, as the market breathed a sigh of relief after the U.S. midterm elections and as investors turned their attention towards the Federal Reserve policy meeting. The Federal Reserve is expected to keep interest rates on hold but signal further tightening in December. The dollar strengthened 0.2 versus the yen to trade at 113.70. The dollar has gained over the past week versus the yen due to the diverging monetary policies of the U.S. Fed and the Bank of Japan.

In Commodities Markets oil neared three-month lows on Thursday, surrendering early gains as investors focused on global crude supply, which is increasing more quickly than many had expected. Chinese data earlier in the day that showed record oil imports offered some temporary respite to bearishness that has developed in the past couple of weeks over the expected crude market balance in 2019. Brent crude futures fell 68 cents to $71.39 a barrel, having backed off a session high of $73.08, while U.S. crude futures fell 72 cents to $60.95.

In US Equity Markets stocks edged lower on Thursday, as a clutch of weak earnings reports punctured a rally from the previous session, which was spurred by the outcome for midterm elections. Wynn Resorts Ltd, Perrigo Co and D.R. Horton Inc were the biggest losers on the S&P 500, all falling after reporting disappointing quarterly results. Qualcomm Inc fell 7.1 percent after the chi-pmaker forecast sales revenue for the holiday shopping quarter below analysts’ estimates. The S&P 500 was down 0.10 percent, at 2,811.03 and the Nasdaq Composite declined 0.13 percent, at 7,561.23.

In Bond Markets Italian bond yields rose on Thursday after the European Commission cut Italy’s growth estimate and forecast a jump in the budget deficit, and as infighting between Italy’s coalition partners continued. Italy’s 10-year government bond yield rose six basis points higher to 3.39 percent, pushing its spread over higher-rated Germany out to 293 basis points. Germany’s 10-year bond yield was up a basis point at 0.46 percent, just off a two-week high hit earlier in the session.