In European Equity Markets the pan-European Stoxx 600 closed up 0.1%, with autos stocks leading the gains with a near 1.5% rise while the basic resources sector fell. On the earnings front, ITV shares jumped almost 7% to the top of the Stoxx 600 after Britain’s biggest free-to-air commercial broadcaster said a strong contribution to online revenue from reality show “Love Island” helped limit a fall in ad revenue to 5% for the first half of the year. Deutsche Bank shares were down 2% after reported a weaker-than-expected net loss of 3.15 billion euros for the second quarter of 2019.

In Currency Markets the euro fell to a two-month low against the dollar on Wednesday, hit by weak economic data that bolstered speculation the European Central Bank could undertake aggressive monetary policy easing as soon as this week. The euro was down slightly at $1.1146 after earlier hitting $1.1128, its lowest since May 30. The euro hit a two-year low of $1.1106 in May. Markets betting on ECB easing have lifted the Swiss franc, with the euro slipping 0.1% to 1.0974 francs, not far from the two-year high of 1.0972 reached on Tuesday.

In Commodities Markets oil prices rose 1% on Wednesday, supported by a sharp fall in U.S. crude stocks and tensions over Iran, but concern about global oil demand capped further gains. Brent crude futures rose 63 cents, or 1%, to $64.46 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up 59 cents, also 1%, at $57.36 a barrel. Yet the market was supported by a large drawdown in U.S. crude stockpiles. Crude inventories fell by 10.8 million barrels in the week to July 19, the EIA aid on Wednesday. Analysts expected a decrease of 4 million barrels.

In US Equity Markets stocks fell on Wednesday after bleak earnings from industrial bellwethers Caterpillar and Boeing exacerbated concerns of a slowing global economy that have roiled financial markets this year. Caterpillar Inc, whose large exposure to China makes it a proxy for the global impact of trade tensions, fell 5.8% after reporting a fall in quarterly earnings on cooling demand for construction machines in Asia. The S&P 500 was down 0.10%, at 3,002.50. The Nasdaq Composite fell 0.06%, at 8,246.33.

In Bond Markets core euro zone government bond yields slid towards all-time lows after data showed that a recession in German manufacturing had worsened, prompting investors to increase bets on a more dovish European Central Bank on Thursday. German 10-year bond yields fell as much as three basis points to a low of -0.39%, near the record low of 0.409% reached earlier this month, while its two-year government bond yield fell to -0.802%. Italian debt of the same maturity fell as much as 13 basis points to 1.469%, a new 33-month low.