In European Equity Markets stocks ended 0.57 percent higher with most sectors and major bourses trading higher. Oil and gas stocks were the top performing sector, up by more than 2.6 percent by the end of European trade. On the other hand, travel and leisure stocks fell 1.1 percent on average. In particular, shares of Compass were down by nearly 5 percent after the company announced some foreign exchange impacts on its latest set of results. Burberry fell more than 6 percent Wednesday. The British brand lost one of its shareholders — Albert Frere’s Groupe Bruxelles Lambert sold its entire stake in the company.

In Currency Markets sterling held near a four-month low on Wednesday before a Bank of England meeting where interest rates are expected to be left unchanged. Weak UK economic data and renewed worries about Brexit have hurt the pound in recent weeks and led markets to almost discount the possibility of interest rates rising on Thursday. Early on Wednesday, sterling fell as low as $1.3499, close to Tuesday’s lows, its weakest since Jan. 11, then recouped some of its losses as the dollar fell. Against the euro, sterling gained 0.3 percent to 87.325 pence as the stronger dollar pulled the single currency down across the board.

In Commodities Markets oil prices rose more than 2 percent on Wednesday, climbing to near 3-1/2 year highs, after U.S. President Trump abandoned a nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member. Ignoring pleas by allies, Trump on Tuesday pulled out of a 2015 international deal with Iran, making investors nervous about rising risks of conflict in the Middle East and about oil supplies in a tight market. Brent crude futures rose $2.02 to $76.87 a barrel, a 2.7 percent gain. The session high of $77.43 a barrel was the highest since November 2014. U.S. West Texas Intermediate (WTI) crude futures rose 2.6 percent, or $1.79 to $70.85 a barrel.

In US Equity Markets indices were higher on Wednesday, with energy shares getting a boost from a jump in oil prices after President Donald Trump pulled the United States out of a nuclear deal with Iran. The S&P 500 was up 7.16 points, or 0.27 percent, at 2,679.08 and the Nasdaq Composite was up 9.96 points, or 0.14 percent, at 7,276.87. The S&P energy index rose 1.9 percent. Six of the 11 major S&P sectors were higher, with the financial sector’s 0.6 percent rise providing the second biggest boost to the benchmark index. Walt Disney fell 2.1 percent. The media company, which is in the process of buying film and TV assets from Twenty-First Century Fox, reported quarterly profit that topped Wall Street forecasts.

In Bond Markets the gap between Italian and German borrowing costs reached its widest level in nearly six weeks on Wednesday on the possibility that a coalition of Italian anti-establishment parties would come into power. The prospect of an Italian government composed of the 5-Star Movement and the far-right League is now looking increasingly likely after President Sergio Matarella effectively gave them 24 hours to form a coalition. Italian 10-year bond yields rose two basis points to 1.88 percent. Other euro zone government bond yields were either flat or lower on the day, with Germany’s 10-year bond yield, the benchmark for the region, unchanged at 0.56 percent.