In European Equity Markets the pan European Stoxx 600 Index closed down up 0.06 percent on the day. Looking at the corporate space, stocks showed a mixed to positive picture with the retail sector leading the pack, up over 1.5 percent as a whole. France’s Carrefour topped Europe’s benchmarks after an upbeat earnings report, which saw the retailer express optimism for its strategy plan going forward. Shares jumped nearly 7 percent. Sticking with the sector, Ahold Delhaize rose over 3 percent after it reported fourth-quarter sales in line with analyst expectations.

 

In Currency Markets the U.S. dollar rose against the yen on Wednesday, after the Bank of Japan kept its stimulus program in place, but uncertainties over trade and the global economy kept the greenback in a tight trading range against other major currencies. The dollar was 0.47 percent higher against the Japanese currency at 109.87 yen. The BOJ cut its inflation forecasts but maintained its stimulus program, with Governor Haruhiko Kuroda warning of growing risks to the economy from trade protectionism and faltering global demand.

 

In Commodities Markets oil prices rose on Wednesday as U.S. crude stocks fell and official data indicated slowing growth in U.S. shale oil output in the coming years. A widespread economic slowdown, which may dent growth in demand for fuel, has weighed on energy prices, but some analysts believe that as supply tightens the market may be pretty balanced going forward. International Brent crude oil futures were up 32 cents, or 0.52 percent, at $61.82 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose by 21 cents, or 0.4 percent, to $53.22.

 

In US Equity Markets the S&P 500 and the Nasdaq reversed course to fell slightly on Wednesday due to losses in healthcare and financial sectors, while the Dow stayed afloat on positive earnings reports from IBM, United Technologies and Procter & Gamble. The S&P 500 was down 0.16 percent, at 2,628.76 and the Nasdaq Composite  fell 0.22 percent, at 7,004.96. Procter & Gamble Co rose 4.3 percent after its quarterly revenue beat Wall Street’s expectation, driven by strong demand for beauty and fabric care products.

 

In Bond Markets most euro zone bond yields fell on Wednesday after the Bank of Japan set the tone for further easing ahead by warning of rising risks to its economy, focusing investors’ attention on Thursday’s European Central Bank meeting. Spain’s 10-year government bond yield extended falls to a new six-month low at 1.32 percent and was last down around 2 basis points on the day. Most other euro zone bond yields were around one basis point lower. Germany’s 10-year bond yield, the benchmark for the region, fell a basis point to 0.23 percent.

 

 

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