In European Equity Markets the pan-European Stoxx 600 hovered around the flat-line during afternoon trade, with technology stocks slightly trimming earlier losses to trade 1.5% lower on the back of German giant SAP’s slide. Health care stocks led gains with a 1% rise. Novartis beat analyst expectations for the second quarter, reporting strong results and raising its guidance for the year, leading its shares 3.7% higher. Asos shares fell more than 17% after the British online fashion retailer issued its third profit warning in eight months.

In Currency Markets the pound rebounded on Thursday after stronger-than-expected retail sales numbers, also finding support from a vote by lawmakers to make it harder for Britain’s next prime minister to try to force a no-deal Brexit. The pound was up 0.4% at $1.2477, after rising to as high as $1.2494, a two-day high, and further away from the 27-month low of $1.2382 hit on Wednesday. Against the euro, sterling increased 0.4% to 89.92 pence, retreating from a high of 89.795 earlier.. It had hit a six-month low of 90.51 on Wednesday.

In Commodities Markets oil fell more than 1.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week’s hurricane in the region. Crude rose earlier in the session after Iran said it had seized a foreign tanker in the Gulf. Prices pulled back after it emerged that the vessel had only a small cargo and was detained on Sunday for fuel smuggling. Brent crude futures were down 93 cents at $62.73 a barrel, after earlier touching a session high of $64.46.

In US Equity Markets stock indexes edged lower on Thursday as investors awaited more developments around trade, while Netflix posted a surprise drop in U.S. subscribers, kicking off earnings for the FAANG group of stocks on a sour note. Shares of the streaming pioneer fell 11.3% and weighed on the S&P 500 and the Nasdaq as the company also missed targets for new subscribers overseas at a time when it has staked its future on global expansion. The S&P 500 was down 0.09%, at 2,981.82. The Nasdaq Composite fell 0.20%, at 8,169.14.

In Bond Markets U.S. Treasury yields rose on Thursday after a Philadelphia manufacturing index rebounded strongly in July, adding to recent data that shows an improving U.S. economy. The Philadelphia Fed said that its index of business conditions rose to the highest level in a year. Benchmark 10-year notes fell 3/32 in price to yield 2.069%, up from 2.061% late Wednesday. Yields have risen from more than 2-1/2-year lows reached earlier this month and the yield curve has steepened as jobs, inflation and retail sales data show that the U.S. economy is improving.