In European Equity Markets the pan-European Stoxx-600 closed up around 0.6 percent, with most sectors and major bourses in positive territory. Europe’s basic resources stocks — with their heavy exposure to China — were the top performers, up almost 2 percent as investors grew increasingly hopeful of a resolution to the U.S.-Sino trade spat. Travel and leisure was another top-gaining sector, amid earnings news. Sweden’s Kindred Group reported an all-time high in active customers in the fourth quarter of 2018. Shares of the Stockholm-listed stock rose by 7.5 percent.

In Currency Markets the U.S. dollar rose modestly on Wednesday morning after a measure of inflation excluding energy prices rose, prompting the greenback to reverse the prior day’s pullback. The dollar index rose by 0.16 percent to 96.863. It stood at $1.130 against the euro, slightly firmer. The New Zealand dollar and Sweden’s crown rose after their central banks broke with the growing caution of the world’s major monetary-policy makers, surprising traders who had expected more dovish signals. The kiwi was last up 1.37 percent. Sweden’s crown rose 0.48 percent versus the dollar to 9.215.

In Commodities Markets oil prices rose on Wednesday after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, and after an industry group reported a surprise decline in U.S. oil inventories. Brent crude, the global benchmark, was up $1.07, or 1.7 percent, at $63.49 a barrel, while U.S. West Texas Intermediate futures were up 91 cents, or 1.7 percent, at $54.01. On Tuesday, the API said U.S. crude inventories fell by 998,000 barrels in the latest week, trouncing forecasts by analysts in a Reuters poll for a rise of 2.7 million barrels.

In US Equity Markets stocks extended a rally from the prior session on Wednesday, powered by rising expectations that the United States and China could strike a deal during their ongoing trade talks, with benign inflation data also lifting sentiment. The S&P 500 was up 0.56 percent, at 2,760.12 and the Nasdaq Composite rose 0.38 percent, at 7,442.99. Dish Network Corp fell 7.4 percent, the most among S&P companies, after the U.S. satellite TV service provider lost more-than-expected pay-TV subscribers in the fourth quarter.

In Bond Markets U.S. benchmark Treasury yields rose to one-week highs on Wednesday and the yield curve flattened after data showed that core consumer prices rose in January, easing concerns about a drop in inflation. Benchmark 10-year notes fell 7/32 in price to yield 2.708 percent. The yield curve between two-year and 10-year notes flattened to 17 basis points, from 18 basis points before the inflation data.