In European Equity Markets the pan-European Stoxx 600 climbed 0.2%, with the majority of sectors and major bourses in positive territory. The FTSE 100 in London was the outlier in Europe, falling 0.6% as the pound moved away from recent lows. Earnings remain in focus. Credit Suisse reported a net income of 937 million Swiss Francs for the second-quarter of this year, beating expectations. The bank’s shares climbed more than 2%. Air France KLM shares traded more than 8% higher after its second-quarter earnings.

In Currency Markets sterling bounced back above $1.22 on Wednesday, enjoying a respite after four days of falls that took it to the lowest in 2-1/2 years earlier in the week. The pound was up 0.7% at $1.2238 and 0.9% up versus the euro at 90.99 pence. It has risen from a 28-month low of $1.2120, but is now down almost 4% in July against the dollar. Wednesday’s bounce was attributed to some end-month portfolio adjustments, coupled with the fact that a no-deal Brexit is still not fully priced into the currency.

In Commodities Markets oil prices rose for a fifth day on Wednesday, supported by a decline in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago. Brent crude futures, the international benchmark for oil prices, were up 60 cents, or 0.9%, at $65.32 a barrel. U.S. WTI crude gained 59 cents, or 1%, to $58.64 a barrel. The API showed crude inventories fell by 6 million barrels to 443 million barrels in the week ended July 26, against a forecast for a decline of 2.6 million barrels.

In US Equity Markets stocks rose modestly on Wednesday on a boost from Apple’s upbeat earnings report, but a decline in chip stocks capped gains. Shares of the iPhone maker were up about 5.11% after the company beat quarterly profit and revenue expectations, and forecast strong sales for the current quarter. This helped the technology sector rise 0.48%, but a 8.56% slide in shares of Advanced Micro Devices Inc kept a lid on gains. The S&P 500 gained a marginal 0.03%, to 3,014.05. The Nasdaq Composite added 0.08%, to 8,280.24.were up 11 points, or 0.14%

In Bond Markets the yields on U.S. government debt declined further on Wednesday as the yields on German 10-year Bunds fell to record lows on safe-haven demand tied to worries about a possible no-deal Brexit and the ongoing trade dispute between China and the United States. The benchmark 10-year Treasury yields were down 2.10 basis points at 2.04%.