Close June 20

​In European Equity Markets indices finished higher Thursday as investors reacted to interest rate decisions from the Bank of England and the Federal Reserve. The pan-European Stoxx 600 closed up 0.5% provisionally, having hit its highest since May 6 earlier in the day. Technology stocks led gains with a 1.6% rise, while travel and leisure stocks were the worst performer, falling 1.1%. Germany’s DAX rose 0.4% and hit a nine-month high earlier in the session. British tour operator Carnival saw its shares fell 11% during the session after cutting its full-year profit forecast.



In Currency Markets sterling’s rally faltered on Thursday despite the Bank of England striking a less dovish tone than other central banks, as policymakers slashed their second-quarter growth forecasts and flagged risks from trade tensions and a no-deal Brexit. The pound, trading around $1.2720 before the BoE announcement, fell to around $1.27, still leaving it up 0.4% on the day. Against the euro, the British currency extended its losses and was down as much as 0.5% at 89.22 pence, before steadying at 88.91 pence.



In Commodities Markets oil rose more than 3% toward $64 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington. Expectations that the U.S. Federal Reserve could cut interest rates at its next meeting, stimulating growth in the world’s largest oil-consuming country, and a drop in U.S. crude inventories also supported prices. Brent crude, the global benchmark, was up $2.06 at $63.88 a barrel having earlier gained 3.4% to $63.93. U.S. West Texas Intermediate crude rose $2.33 to $56.09.



In US Equity Markets the S&P 500 index touched an all-time high on Thursday, after the Federal Reserve indicated that it could cut interest rates as early as July to combat growing risks to global and domestic growth. The S&P 500 was up 17.35 points, or 0.59%, at 2,943.81. The Nasdaq Composite was up 46.86 points, or 0.59%, at 8,034.19. The technology sector rose 1.16%, boosting the S&P 500 by the most, with Oracle Corp leading the charge. Shares of the business software maker jumped 8.30%, after it forecast current-quarter profit above estimates.



In Bond Markets U.S. benchmark 10-year Treasury yields on Thursday fell below 2% for the first time in more than 2-1/2 years, while other maturities fell to multi-year lows as well, a day after the Federal Reserve flagged interest rate cuts as early as next month. U.S. 30-year yields likewise fell to their lowest since October 2016, while those on two-year notes slid to their weakest level since mid-November 2017. U.S. 2-year yields slid to 1.696%, the lowest since mid-November 2017, from Wednesday's 1.766%. They were last at 1.716%.