Close Mar 29

​In European Equity Markets the pan-European Stoxx 600 index rose 0.3 percent, down off its high for the day, on the last trading session of the month. On the corporate front, H&M shares jumped 10 percent after it reported a smaller than expected drop in first-quarter pretax profit. Meanwhile, Swedbank and Nordea both saw heavy selling on Friday with reports that New York's financial regulator has sent letters to both asking for detailed information about their dealings with Danske Bank. It's another step in a long drawn out money-laundering scandal in the region.



In Currency Markets the U.S. dollar index on Friday morning was lower as increased investor appetite for risk hurt safe-haven currencies and after U.S. inflation data came in weaker than expected, adding to the conviction that the country’s economy is losing momentum. With many currencies on the defensive, the dollar had this week weathered a decline in benchmark Treasury yields to a 15-month low. But the buck was pulled lower on Friday morning by the twin forces of weak data and a global risk-on move.



In Commodities Markets oil prices rose on Friday, on track for their biggest quarterly rise in a decade, as U.S. sanctions against Iran and Venezuela as well as OPEC-led supply cuts overshadowed concerns over a slowing global economy. The May Brent crude oil futures contract, which expires Friday, gained 48 cents to $68.30 a barrel, set for a gain of 27 percent in the first quarter. The more-active June contract was up 35 cents at $67.45 a barrel. U.S. West Texas Intermediate (WTI) futures rose 63 cents to $59.93 a barrel, and were on track for a rise of 32 percent over the January-March period.



In US Equity Markets stocks rose on Friday, with the S&P 500 set to post its best quarterly performance in more than nine years. The S&P 500 was up 0.24 percent, at 2,822.26 and the Nasdaq Composite rose 0.35 percent, at 7,696.03. Trade-sensitive industrials rose 0.65 percent and chipmakers, which have a large revenue exposure to China, also gained, with the Philadelphia chip index up 1.13 percent. DowDuPont fell 2.1 percent after brokerages lowered their price targets on the chemical company, citing bad weather and margin pressures.



In Bond Markets German government bond yields dipped after UK lawmakers rejected Prime Minister Theresa May’s Brexit agreement for the third time on Friday, plunging the UK into a period of uncertainty over its planned departure from the EU. Germany’s 10-year government bond yield fell two basis points after the vote to trade near flat on the day at -0.07 percent, as investors focused on the ongoing-uncertainty that the vote indicates. German and French 10-year bond yields are down around 25 basis points each this month, set for their biggest monthly falls since June 2016