In European Equity Markets the pan-European Stoxx 600 fell just below the flatline at the closing bell, with sectors and major bourses pointing in opposite directions. Looking at individual stocks, chipmaker AMS rose to the top of the European benchmark during morning trade. It comes after the Apple supplier reported an upbeat outlook for the second quarter, driven by a rising number of Android smartphones using its 3D optical sensors. Shares of the Austrian group jumped 21% on the news.
In Currency Markets sterling rose above $1.30, hitting a two-week high, on Tuesday after media reports that the tone of Brexit talks between the British government and the main opposition party had improved. The pound rose to as high as $1.3049, with broad dollar weakness and end-of month portfolio changes by asset managers cited as possible reasons for the move alongside the Brexit-related optimism. The pound was on track for its biggest daily gain in over a month versus the dollar, rising 0.8 percent to $1.3047 and 0.6 percent to 85.91 pence against the euro.
In Commodities Markets oil prices topped $73 on Tuesday as Venezuela’s opposition leader called on the military to back him to end Nicolas Maduro’s rule and Saudi Arabia said a deal between producers to curb output could be extended to the end of 2019. The government in Venezuela, an OPEC member whose oil exports have been hit by U.S. sanctions and an economic crisis, dismissed any suggestion of an insurrection. Brent crude futures hit a session high of $73.27 per barrel and traded 84 cents higher at $72.88 a barrel, while U.S. crude futures were at $64.32, up 63 cents a barrel.
In US Equity Markets indexes on Tuesday pulled away from all-time highs set in the previous session, following a slump in the shares of Google-parent Alphabet after weak quarterly results. The S&P communication services sector slid 2.35%, the most among major S&P sectors and was on track for its biggest percentage fall in over four months. General Electric Co jumped 4.4% after the industrial conglomerate’s first-quarter profit rose and it lost less cash than expected. The S&P 500 was down 0.29%, at 2,934.50 and the Nasdaq Composite fell 0.67%, at 8,106.99.
In Bond Markets Germany’s 10-year government bond yield touched a one-week high above zero percent on Tuesday, following stronger-than-expected euro zone economic growth data and as inflation in the powerhouse German economy accelerated. Most euro zone 10-year bond yields rose 3-4 basis points with Germany’s 10-year government bond yield briefly jumping 5 bps to a one-week high of 0.051 percent, before falling back to 0.016 percent, up 1.5 bps on the day.