Closing June 11

​In European Equity Markets the pan-European Stoxx 600 closed up 0.72% during the session, basic resources jumping 2.8% while autos also climbed 1.7%, with most sectors trading in positive territory. British luxury fashion brand Ted Baker fell 30% after the company warned on its 2019 profit following an “extremely difficult” start to the year. Danish hospital equipment company Ambu climbed to top the Stoxx 600, rising 7.8%. French video game producer Ubisoft’s stock hit the bottom at one point but recovered slightly to close 2.5% lower.



In Currency Markets sterling pulled away from five-month lows versus the euro on Tuesday after British wages in the three months to April rose faster than expected. Worse than expected data on Monday showing the British economy fell 0.4% in April added to the pound’s worries. The pound recovered from five-month lows against the euro of 89.325 pence hit earlier in the session and rose 0.3% to 88.93 pence. Versus the dollar the British currency rose 0.3% to $1.2728 from around $1.2694 before the data.



In Commodities Markets oil rose further above $62 a barrel on Tuesday as firmer equities and expectations OPEC and its allies will keep withholding supply countered concern about slowing economies and demand. Russia said on Monday it might support an extension of OPEC-led supply cuts that have been in place since January, while equities rose after China eased financing rules to stem an economic downturn, giving oil a lift. Brent crude, the global benchmark, rose 15 cents to $62.44 a barrel. U.S. West Texas Intermediate was up 33 cents at $53.59.



In US Equity Markets indices rose on Tuesday, led by technology stocks, on the back of easing trade tensions with Mexico and signs of more fiscal stimulus in China. All the major S&P sectors were trading higher, with the defensive utilities and real estate sectors posting the smallest gains. The S&P 500 was up 0.64%, at 2,905.27 and the Nasdaq Composite rose 0.85%, at 7,889.54. Symantec Corp fell 3.2%, the most among S&P companies, after Morgan Stanley downgraded the antivirus software maker’s stock, citing increased competition.



In Bond Markets a fell in two-year Treasury prices flattened the yield curve on Tuesday after a Labor Department report showed producer prices increased in May for the second consecutive month, pointing to a steady pick-up in underlying inflation pressures. The two-year yield, which reflects market expectations of rate hikes, rose 3.4 basis points to 1.934% in morning trade. That narrowed the spread between two- and 10-year yields, the most common measure of the yield curve, to 22.1 basis points from 23.9 on Monday.