In European Equity Markets stocks closed little changed Wednesday, with trade greatly impacted by concerns over fiscal spending in Italy. The pan-European Stoxx 600 closed neutral with sectors and major bourses mixed. In stocks news, the media company Schibsted was up by 4.5 percent after a rating upgrade. WH Smith rose to the top of the index, with shares up by almost 7.5 percent after reporting a 4 percent increase in sales in the 13-weeks to June 2. Growth in its travel business helped to offset a decline in high-street sales.

In Currency Markets the euro rose to a nearly two-week high against the dollar on Wednesday after officials said the European Central Bank could wind down its stimulus program by the end of the year, as inflation has risen to its target. Europe’s common currency was on track to post its largest weekly gain versus the dollar since mid-February. The euro’s rise put pressure on the U.S. dollar index, which measures the greenback versus a basket of six major currencies. The index fell 0.4 percent to 93.518.

In Commodities Markets oil prices fell on Wednesday on signs Saudi Arabia and other big producers may increase production, and U.S. crude slid more than 1 percent on a surprise build in domestic crude stockpiles. U.S. crude inventories rose 2.1 million barrels in the week to June 1, the Energy Information Administration said, a surprise after analysts had forecast a decrease of 1.8 million barrels. Fuel inventories also rose. Brent was down 96 cents a barrel at $74.71. U.S. light crude was down $1.00, or more than 1.5 percent, at $64.50.

In US Equity Markets gains for Amazon and Tesla helped the Nasdaq open at a record high on Wednesday, before the index fell slightly as Facebook led a decline in the technology sector. Tesla Inc jumped 5 percent after billionaire Chief Executive Officer Elon Musk reassured shareholders that building 5,000 of its mass-market Model 3 cars per week by the end of June was “quite likely”. The Nasdaq had closed at record highs on both Monday and Tuesday, helped by gains for Apple, Amazon and other tech giants. However, the S&P technology sector was down 0.13 percent on Wednesday.

In Bond Markets U.S. Treasury yields rose on Wednesday with the 10-year yield hitting a 1-1/2 week high on worries that the European Central Bank would end the expansion of its massive bond purchase program later this year.  The 10-year German Bund yield climbed nearly 10 basis points to 0.465 percent, while Italian 10-year yields jumped almost 16 basis points to 2.916 percent. The benchmark US 10-year Treasury yield was up more than 4 basis points at 2.963 percent after touching a 1-1/2 week high, while two-year yields increased about 3 basis points to 2.520 percent.