In European Equity Markets the pan-European Stoxx 600 ended 1.07 percent higher with only Basic Resources and Retail sectors moving lower. On the other hand, food and beverage were up by more than 2 percent following some rating upgrades. Shares of Hugo Boss also fell 6.8 percent on its results day. The retailer said that it is cautious on its profit for 2018 as it invests in its stores and website. Near the top of the European benchmark was ACS, finishing up by more than 7.7 percent, following news that it is studying a joint offer with Atlantia to buy Abertis. However, shares of Boskalis Westmin fell nearly 11 percent after reporting its latest results. The firm expects a mixed outlook for its markets in 2018.

In Currency Markets the euro erased its losses and rose slightly on Thursday after the European Central Bank dropped a long-standing pledge to increase bond buys if needed. The single currency, which was down 0.3 percent at $1.2378 before the announcement, increased to a day’s high of $1.2431 before settling at $1.2411. The dollar was underpinned by Wednesday’s data on U.S. private hiring and labour costs that reinforced the view of underlying strength in the economy. The Japanese yen traded flat at 106.13 yen after earlier gaining to below 106 as the dollar sold off. The Hong Kong dollar fell to a 33-year low, at 7.85 per U.S. dollar.

In Commodities Markets oil fell on Thursday, steering prices towards a second consecutive weekly fall against a backdrop of rising U.S. crude production and inventories. Brent crude futures fell 47 cents to $63.87 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 40 cents to $60.75 a barrel. Brent was on track for a decline of around 0.7 percent this week, after last week’s 4.4 percent slide. A build-up in U.S. crude inventory reported the previous day was not as large as expected, given that stocks tend to rise towards the end of the winter as refineries conduct maintenance. Spot gold fell 0.3 percent to $1,321.43 an ounce.

In US Equity Markets stocks gave up earlier gains on Thursday ahead of President Donald Trump’s announcement of his hefty metals tariffs amid easing concerns that the move could ignite a global trade war. The S&P 500 was up flat at 2,727.1. The Nasdaq Composite was up 0.2 percent, at 7,411.55. Express Scripts was among the top boosts to the S&P 500, rising 12 percent after health insurer Cigna  agreed to buy the pharmacy benefits manager for $54-billion deal. Cigna shares slipped 7.6 percent. The deal boosted the S&P healthcare index, up 0.55 percent. Real estate also rose 0.62 percent. Kroger fell more than 10 percent after the supermarket chain issued a disappointing full-year profit forecast.

In Bond Markets The yield on the U.S. benchmark government bond rose on Thursday, tracking its German counterpart as the European Central Bank dropped its easing bias, but its move was more muted, compressing the spread between the two. Germany’s 10-year bond yield rose following President Mario Draghi’s announcement the central bank would drop a long-standing pledge to increase bond buying if needed. The 10-year yield was last at 2.854 percent, above yesterday’s close at 2.883 percent. The spread between German and U.S. benchmark bond yields hit a session high of -218.60 above yesterday’s close at -221.0.