In European Equity Markets the pan-European Stoxx 600 closed the day lower by 0.16 percent. Tech stocks were the out-performers. Basic resources and autos fell on the back of renewed trade tensions. Sunrise Communications was the top performer, ending up 7.25 percent, after reporting second-quarter results and raising its outlook for the year. Ryanair shares jumped 5.48 percent Thursday. This was after the Irish pilots union Forsa said that an agreement had been reached with the company after a 22-hour session of talks.

In Currency Markets sterling slid on Thursday as the government stepped up its plans for a no-deal Brexit, once again reviving concerns about the currency’s fate if Britain left the European Union without having agreed new trade arrangements. The pound traded down 0.6 percent versus the dollar at $1.2834 and down 0.4 percent against the euro at 90.18 pence..Sterling fell to $1.2662 last week, its lowest since June 2017, after several ministers warned that the risk of leaving without an agreement had increased.

In Commodities Markets oil prices slipped on Thursday as an escalating trade dispute between the United States and China outweighed news of a decline in U.S. commercial crude inventories. Benchmark Brent crude oil was down 40 cents a barrel at $74.38. U.S. light crude was 40 cents lower at $67.46. U.S. commercial crude oil inventories fell by 5.8 million barrels in the week to Aug. 17 to 408.36 million barrels, the Energy Information Administration (EIA) said in its weekly report.

In US Equity Markets the S&P 500 edged higher on Thursday as technology stocks rose, though gains were restricted by declines in commodity-related stocks and trade-sensitive sectors after new tariffs took effect in the U.S.-China trade war. The S&P 500 was up 0.10 percent, at 2,864.57 and the Nasdaq Composite rose 0.36 percent, at 7,917.27. Victoria’s Secret-owner L Brands fell 9 percent, the most on the S&P, after cutting its full-year profit expectations. The technology index rose 0.64 percent, bolstering the S&P 500 and the Nasdaq Composite.

In Bond Markets high grade euro zone bond yields stayed off recent lows on Thursday after purchasing managers’ index data showed a moderate pickup in business growth. Euro zone bond yields all fell at the market open, though the moves were marginal. The spread between German 10-year and U.S. 10-year Treasury yields opened on Thursday at 247.0 bps, before creeping up to 247.8 bps.