In European Equity Markets the pan-European Stoxx 600 ended the session 0.1% higher, with most sectors and all major bourses in positive territory. Oil and gas stocks rose 1.3% to lead gains while the travel and leisure sector fell 1%. At the bottom of the European blue chip index, Travel giant Tui fell 7% after Morgan Stanley cut the stock from “overweight” to “equal” and reduced the target price. German health care company Fresenius declined 6% while Austrian chipmaker AMS gave up early gains following strong third-quarter results to slide 3.6%.

 

In Currency Markets the U.S. dollar rose on Tuesday against the pound and euro as uncertainty spread ahead of the British parliament’s vote on the Withdrawal Agreement Bill which will shine light on when and how Britain will exit the EU. Sterling was down 0.35% to $1.291 in mid-morning trade after Johnson told parliament that if it delayed his Brexit legislation he would abandon his attempt to ratify the deal to leave the European Union and push for an election instead. The euro was down 0.19% versus the dollar, though remains up 2.09% this month.

 

In Commodities Markets oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by bearish forecasts of a buildup in U.S. crude stockpiles. Brent crude oil was up 66 cents at $59.62 a barrel, while U.S. West Texas Intermediate crude was 77 cents higher at $54.08 per barrel. China and the United States have achieved some progress in their trade talks, Vice Foreign Minister Le Yucheng said on Tuesday, and any problems could be resolved as long as both sides respected each other.

 

In US Equity Markets indices rose on Tuesday, bolstered by gains in Biogen and upbeat earnings reports that eased concerns over the fallout from the U.S.-China trade war, but the Dow Jones index was pressured by a drop in McDonald’s and Travelers.  The S&P 500 was up 0.20%, at 3,012.70. The Nasdaq Composite rose 0.23%, at 8,181.47. Biogen’s shares surged 36% after the drug-maker announced a surprise plan to file for U.S. regulatory approval for its Alzheimer’s treatment. The wider healthcare index showed the biggest increase among the major S&P 500 sectors.

 

In Bond Markets Euro zone government bonds yields fell on Tuesday, before a vote in the British parliament that may determine whether the UK can leave the European Union in an orderly way at the end of the month. Italian government bonds outperformed, the 10-year yield falling 7 basis points to 1.02% and putting it on course for its best day in October. The ECB meets on Thursday for Mario Draghi’s final policy meeting as the central bank’s president.

User Auto Log Out 3 Hours Register |