In European Equity Markets the pan-European Stoxx 600 closed 0.4% higher, with trade-sensitive autos and technology stock baskets leading gains. All sectors except utilities and retail were in positive territory. In terms of individual stocks, British sports betting firm GVC Holdings rose over 5% after issuing its second outlook upgrade in three months. Norwegian recycling company Tomra Systems fell 4% to the bottom of the European blue-chip index.
In Currency Markets the U.S. dollar rose against the safe-haven Japanese yen on revived hopes for an amicable resolution to the U.S.-Chinese trade war, after a report that China is still open to agreeing to a partial trade deal with the United States. Against the yen, which tends to strengthen during times of geopolitical stress due to Japan’s standing as the world’s biggest creditor, the greenback was 0.29% higher at 107.38 yen.
In Commodities Markets oil prices rose on Wednesday following media reports that China was open to a partial trade deal with the United States and after Turkey launched a military operation in northern Syria, but a build in U.S. crude inventories limited gains. Brent crude was up 32 cents at $58.56 a barrel, and U.S. West Texas Intermediate crude was at $52.98, up 35 cents. U.S. crude stocks grew more than expected last week, rising by 2.9 million barrels.
In US Equity Markets indices rose on Wednesday on the back of gains in technology stocks, as investor sentiment was boosted by reports indicating an ease in trade tensions between the United States and China ahead of pivotal talks on Thursday. The S&P 500 was up 0.66%, at 2,912.03 and the Nasdaq Composite rose 0.80%, at 7,886.10. Shares in Netflix Inc. fell 1.21%, after two brokerages cut price targets on the video streaming service provider’s shares.
In Bond Markets Euro zone government bond yields rose on Wednesday, reversing some of the previous day’s falls as a media report eased worries about escalating U.S.-China trade tensions. Ten-year bond yields across the euro area were 3-4 basis points higher on the day. Portugal meanwhile sold 750 million euros of 15-year bonds at an auction. Ireland said it had mandated banks to sell more of its green bond.