In European Equity Markets the pan-European Stoxx 600 index closed up around 0.8 percent, with most sectors and major bourses in positive territory. Europe’s utilities and household goods were among the top performers, with each sector up more than 1 percent. Britain’s Royal Mail fall to the bottom of the European benchmark after it narrowed its profit view for the year. The London-listed firm saw shares declined almost 14 percent on the news.
In Currency Markets sterling was higher higher on Tuesday, reversing early losses after the speaker of the British parliament chose amendments to be voted on by lawmakers, including one that would effectively take a no-deal Brexit off the table. Speaker Bercow’s announcement sent sterling to a session high of $1.32 —having traded earlier in a $1.3160-$1.3170 range — up 0.2 percent on the day. But it remains well off 2-1/2 month highs of $1.3218.
In Commodities Markets oil prices rose on Tuesday after Washington imposed sanctions on state-owned Venezuelan oil company PDVSA in a move likely to curb the OPEC member’s crude exports, but gains were capped by abundant supply and signs of a slowing Chinese economy. The upward momentum in the global benchmarks gathered pace in afternoon trading. International Brent crude oil futures were up $1.31 at $61.24 a barrel and on track for its biggest monthly rise since April 2016. U.S. West Texas Intermediate (WTI) crude futures were up $1.32 at $53.31.
In US Equity Markets the S&P 500 and Nasdaq fell on Tuesday, as technology stocks pulled back, while concerns about the upcoming U.S.-China trade talks and mixed earnings reports gave little impetus for markets to recover from a slide a day earlier. Technology stocks fell 0.9 percent with Apple Inc, set to report after market close on Tuesday, falling 0.6 percent. The S&P 500 was down 0.30 percent, at 2,635.86 and the Nasdaq Composite was down 0.83 percent, at 7,026.60.
In Bond Markets Greece raised 2.5 billion euros from a new five-year bond at a relatively competitive yield, drawing strong demand in a small but significant step towards refinancing its debt from markets after years of tight supervision under bailouts. Greece’s 10-year bond yield fell five basis points to 4.00 percent, its lowest level since early August. Five-year bond yields were down 4 bps at 2.99 percent and not far off recent lows.