In European Equity Markets the pan-European Stoxx 600 had climbed 0.5% by the closing bell, with industrials adding 1% to lead gains as most sectors and major bourses entered positive territory. Quilter shares jumped 8.8% by the end of European trade after reporting a 17% year-on-year jump in fourth-quarter sales and a rise in full-year assets under management. LVMH shares fell 1% after the French luxury goods giant posted weaker sales growth in the fourth quarter and said it sees softer demand in Hong Kong amid anti-government protests.

In Currency Markets demand strengthened for the dollar index and the safe-haven Japanese yen firmed modestly by midmorning on Wednesday as a risk-off tone returned to markets amid continued uncertainty about the economic fallout of the coronavirus outbreak. The dollar index, which weighs the greenback against a basket of six major currencies, held near two-month highs, last trading up 0.9% at 98.109. The Australian dollar, highly exposed to the Chinese economy, has fallen 1.35% since Friday’s close, and was last down 0.35% at 0.674.

In Commodities Markets oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support. Brent crude gained 9 cents to $59.60 at barrel. U.S. crude was down 32 cents at $53.16. Financial markets that have been hit by the spread of the virus out of China are trying to assess the economic fallout, with the death toll rising to 132 and airlines reducing flights to China.

In US Equity Markets stock indexes retreated from early highs on Wednesday as a spate of disappointing earnings reports offset strong gains in Apple and Boeing, while investors assessed the economic impact of the fast-spreading coronavirus outbreak. Advanced Micro Devices fell 7% after the chip-maker forecast first-quarter revenue largely below analysts’ estimates due to waning demand from gaming console makers. The S&P 500 rose 0.11%, at 3,279.91 and the Nasdaq Composite gained just 0.06%, at 9,275.54.

In Bond Markets U.S. Treasury yields fell on Wednesday as the death toll from a Chinese virus rose sharply, though they held above three-month lows reached on Tuesday where there is technical support. Benchmark 10-year note yields fell two basis points to 1.62%. They fell to 1.57% on Tuesday, the lowest since Oct. 10, before bouncing sharply higher as stock markets rallied. The closely watched yield curve between three-month bills and 10-year notes very briefly inverted on Tuesday for the first time since October. It traded at 4 basis points on Wednesday.