In European Equity Markets the pan-European STOXX 600 ended the session higher, up 0.29 percent, while sectors showed a mixed picture by the close. The FTSE 100 jumped 1.26 percent, boosted by commodities and a decline in sterling, while the French CAC 40 popped 0.5 percent and Germany’s DAX finished 0.04 percent, capped by weakness in the auto sector. Basic resources stocks gaining ahead of fellow industries on Wednesday, finishing trade up 4.37 percent as a sector. Polymetal International flew to the top of the European benchmark, jumping 12 percent, after reporting a 19 percent rise in year-on-year revenue for the first-quarter.

In Currency Markets the U.S. dollar held steady versus a basket of currencies on Wednesday, as solid company results and fading concerns about a trade war renewed investor purchases of U.S. stocks, keeping a lid on safe-haven demand for the greenback. The dollar also has found support from relatively stronger economic figures than those seen in Europe and other developed markets, as well as reduced fears that Western air strikes on Syria would intensify. The Canadian dollar fell 0.8 percent to C$1.2646 per dollar after the Bank of Canada, as expected, left key rates unchanged, but the tone in its policy statement was not as hawkish as some traders had expected.

In Commodities Markets oil futures jumped more than 2 percent on Wednesday on a decline in U.S. crude inventories and after sources signaled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. OPEC’s new price hawk Saudi Arabia would be happy for crude to rise to $80 or even $100, three industry sources said, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement’s original target is within sight. Brent crude futures were up $1.54 at $73.12, while U.S. West Texas Intermediate crude futures gained $1.63 to $68.15, having hit $68.45 earlier in the session, their highest since late 2014.

In US Equity Markets the benchmark S&P 500 index posted slight gains on Wednesday, helped by gains from industrial and energy stocks, but IBM’s disappointing results and a sell-off in semiconductor stocks weighed on the Nasdaq and the Dow. IBM fell 6.2 percent after the company reported quarterly profit margins that fell short of Wall Street expectations. Semiconductor stocks also took a hit, led by Lam Research’s 5 percent decline after what analysts called a disappointing shipment forecast. The S&P technology index fell about 0.5 percent. The S&P 500 was up 0.02 percent at 2,707.05 and the Nasdaq Composite was down 0.12 percent at 7,272.62.

In Bond Markets the gap between short-dated U.S. and German borrowing costs reached its widest in almost three decades on Wednesday, reflecting a growing divergence in interest rate outlooks for the U.S. and European central banks. New signs of subdued inflationary pressure in the euro zone bolstered expectations of a cautious stance from the European Central Bank. Portugal’s 10-year bond yield fell to a three-year low. Italian yields hit their lowest level this year. Germany’s 10-year bond yield, the benchmark for the bloc, was up 2 basis points on the day at 0.531 percent in late trades.