Close Apr 3

In European Equity Markets the pan-European Stoxx 600 index closed up 0.8 percent, with most sectors and major bourses in positive territory. Europe's basic resources and autos stocks, with their heavy exposure to China, jumped around 1.7 percent on Wednesday. Looking at individual stocks, shares of German broadcaster ProSiebenSat.1 jumped to the top of the European benchmark, gaining 6 percent amid renewed speculation over a merger with Italy's Mediaset. Shares of the Italian broadcaster were up by around 3 percent on Wednesday afternoon.



In Currency Markets the euro gained against the greenback on Wednesday as hopes of a trade deal between the U.S. and China bolstered risk appetite globally, while the Australian dollar outperformed on strong local and Chinese economic data. The euro was last up 0.28% against the U.S. dollar at $1.1233. The single currency on Tuesday fell to its lowest levels in more than three weeks and neared $1.1174. The Australian dollar jumped 0.65% against the greenback after Chinese and local data gave the currency a boost.



In Commodities Markets oil prices were little changed on Wednesday even after U.S. government data showed a surprise increase in crude inventories, as OPEC-led output cuts and U.S. sanctions kept the supply outlook tight enough to hold futures near five-month highs. Brent futures were unchanged at $69.37 a barrel. Their session high was $69.96, the highest since Nov. 12, when they traded above $70. U.S. West Texas Intermediate crude fell 2 cents to $62.56, having briefly hit $62.99, the highest since Nov. 7.



In US Equity Markets stock indexes rose on Wednesday, extending a strong start to the quarter as a rally in chip-makers added to optimism over trade talks between the United States and China. The S&P 500 was up 0.26%, at 2,874.62 and the Nasdaq Composite rose 0.63%, at 7,898.21. Seven of the 11 major S&P sectors were higher, with the technology index’s 0.6 percent rise providing the biggest boost. GameStop Corp fell 8.5% after the videogame retailer forecast current-quarter profit below analysts’ estimates.



In Bond Markets U.S. Treasury yields climbed to 1-1/2 week highs on Wednesday as hopes for a trade deal between China and the United States and a breakthrough for Brexit touched off a sell-off in the bond market. The yields on benchmark 10-year Treasury notes were 2.5062%, up 0.03 percentage point from Tuesday. They hit a 1-1/2 week peak of 2.524% earlier Wednesday. Their premium over three-month bill rates grew to 8 basis points from more than 4 basis points late on Tuesday.