In European Equity Markets closed higher Thursday as investors consolidated steep losses from the previous session when heightened fears of an escalation to the U.S.-China trade war soured sentiment. The pan-European Stoxx 600 closed up by 0.8 percent, with all major bourses and most sectors in positive territory. Media was the best performing sector on Thursday, rallying to close 2.3 percent higher. Healthcare stocks also rose throughout the day to close just over 2 percent in the green.

In Currency Markets the U.S. dollar strengthened against the Japanese yen to a six-month high on Thursday, bolstered by solid inflation data and continuing a week long rally of the pair which suggests investors believe the greenback stands to benefit from a trade war. On Thursday morning, the dollar hit a fresh six-month high against the Japanese currency last at 112.47. The dollar index, which measures the currency against a basket of six currencies, was flat in the North American session at 94.78, its highest since July 3.

In Commodities Markets oil prices steadied on Thursday, but did not recover from sharp losses in the previous session despite the International Energy Agency’s (IEA) warning that the world’s oil supply cushion “might be stretched to the limit” due to production losses. Brent crude oil gained 15 cents a barrel to trade at $73.55, after earlier trading at a session low of $72.67. On Wednesday, the global benchmark had declined $5.46, or 6.9 percent, its biggest one-day fall in two years. U.S. crude fell 63 cents to $69.75 a barrel, after losing 5 percent the previous session.

In US Equity Markets stocks gained on Thursday, led by technology stocks hitting record highs and a rebound in industrial stocks.The technology sector rose 1.3 percent, leading the gainers among the 11 major S&P sectors. Industrials rose 1 percent. CA Inc jumped 18.1 percent, the most on the S&P 500, after chipmaker Broadcom announced a surprise $18.9 billion deal to buy the business software company. Broadcom fell 16.8 percent, leading S&P’s losers. The S&P 500 was up 0.56 percent, at 2,789.53 and the Nasdaq Composite was up 0.85 percent, at 7,782.41.

In Bond Markets government bond yields across the euro area fell on Thursday after minutes from the European Central Bank’s last meeting showed the bank will keep rates at record lows for as long as needed, and its rate guidance should be seen as “open-ended.” Ten-year euro zone government bond yields were last down 1-4 basis points. In benchmark bond issuer Germany, 10-year yields fell 1.5 bps to 0.29 percent — moving back within sight of recent five-week lows.