In European Equity Markets the pan-European Stoxx 600 closed provisionally up by 1.69 percent, with all sectors and major bourses in positive territory. Europe’s basic resources stocks were the top performers on Wednesday, up 2.84 percent after Trump said he would not raise tariffs on Chinese products until he was sure about a deal. BHP Group, Boliden and Rio Tinto were all traded higher on the news. Deutsche Bank and Commerzbank rose 5.5 percent after a report that the German government is conducting high-level discussions to smooth the path for a possible merger.

In Currency Markets sterling recovered from 20-month lows on Wednesday as Prime Minister Theresa May vowed to fight an attempt to unseat her and warned hardline eurosceptic colleagues that they risked delaying or even stopping Britain’s departure from the European Union. The pound extended gains to $1.2621, up 1.1 percent, from below $1.25 earlier in the session. The currency was on course for its biggest one-day gain in six weeks. Against the euro, sterling rose 0.7 percent to a session high of 89.92 pence.

In Commodities Markets oil pared gains Wednesday after U.S. crude inventories fell less than expected, but remained supported by a cut in Libyan exports and an OPEC-led deal to trim output. U.S. crude stockpiles fell by 1.2 million barrels in the week to Dec. 7, the U.S. Energy Information Administration said, smaller than the draw reported by industry group the American Petroleum Institute on Tuesday and less than half the draw of 3 million barrels analysts had forecast. Brent crude futures rose 35 cents a barrel to $60.55, paring gains from the session high of $61.43 a barrel.

In US Equity Markets stocks rose 1 percent on Wednesday, boosted by technology stocks, as a report about China planning to increase access for foreign firms added to optimism fueled by President Donald Trump’s upbeat comments on trade. The S&P 500 was up 1.09 percent, at 2,665.40 and the Nasdaq Composite rose 1.36 percent, at 7,127.74. The only Dow component in the red was Verizon Communications Inc down 2.30 percent after Morgan Stanley downgraded the wireless carrier’s shares, expecting limited 5G revenues and increased competition.

In Bond Markets U.S. Treasury yields climbed on Wednesday, in tandem with gains in U.S. equities, after President Donald Trump said trade talks with China were progressing and more meetings were likely among officials of both countries. The rise in yields was across the board, with those on U.S. long-dated debt climbing for three straight sessions. U.S. 10-year note yields rose to 2.902 percent, from 2.881 percent late on Tuesday. U.S. 30-year bond yields were also up at 3.141 percent , from 3.128 percent on Tuesday.