Closing Apr17th

​In European Equity Markets the pan-European Stoxx 600 finished flat with all of the continent’s major individual bourses in positive territory. Autos and banks both rallied as economic data out of China boosted optimism and assuaged fears that the global economy is slowing down. Europe’s basic resources stocks were among the worst performers during deals however, down around 0.8%. Shares of BHP Group and Rio Tinto fell 2.6 percent and 2.8 percent. On the positive side, Switzerland’s ABB rose 5 percent after CEO Ulrich Spiesshofer resigned.



In Currency Markets sterling struggled to make much headway on Wednesday after data showed British prices rose slightly slower than expected in March, easing the pressure on the Bank of England to tighten monetary policy. Annual consumer price inflation came in at 1.9 percent in March, below forecasts for a 2 percent rise and below the BoE’s target of 2 percent. The pound fell slightly from around $1.3055 to $1.3040 after the inflation numbers were published. Against the euro, sterling extended its losses and hit the day’s low of 86.81 pence, down 0.3 percent.



In Commodities Markets brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signaled firm demand, while global supply remained tight. International benchmark Brent crude futures were up 20 cents, or 0.28 percent, at $71.92, having hit an intraday peak of $72.27. U.S. West Texas Intermediate (WTI) crude futures were at $64.39 per barrel, up 34 cents or 0.53 percent and just shy of a 2019 high of $64.79 hit last week.



In US Equity Markets main indexes were trading flat on Wednesday, as a Qualcomm-led rally in chip-makers was offset by a slide in healthcare stocks for the second straight session, although quarterly earnings came in largely positive. Qualcomm Inc surged 10.3% after the company won a major victory in its legal dispute with Apple Inc that called for the iPhone to once again use Qualcomm modem chips. Netflix Inc shares fell 0.1% in volatile trading. The video streaming service provider gave a weak forecast but beat quarterly estimates.



In Bond Markets U.S. Treasury yields drifted lower from four-week highs on Wednesday, as Wall Street shares lost steam in a holiday-shortened week and investors got back in the market after a recent sell-off. Financial markets are closed on Friday for the Good Friday holiday. U.S. 10-year note yields fell to 2.59%, down from 2.59% late on Tuesday. On the short end of the curve, U.S. 2-year yields fell to 2.40%, compared with Tuesday's 2.41%.