Markets mixed as investors focus on central banks

On Thursday European bonds rose and stocks were mixed as investor focus switched back to central banks after the release of minutes of last month’s Federal Reserve meeting. The dollar drifted and Treasury yields declined.

Fed officials debated hard last month over whether forces holding inflation down were persistent or temporary. Investors are still betting they will press ahead with a third interest-rate hike in 2017 when they gather in December. Elsewhere the euro remained steady as Spanish Prime Minister Mariano Rajoy kept the pressure on Catalan separatists. Spanish stocks nudged higher and bond yields stayed little changed.

In the U.K., sterling rose for a fourth day even as the fifth round of Brexit negotiations draws to a close with seemingly little progress.

West Texas oil halted three days of gains near $51 a barrel. Oil stockpiles will fall this year for the first time since prices slumped four years ago, the IEA said during the day. Gold climbed for a fifth day.

Bitcoin surged to a fresh record, climbing above $5,000, as the enthusiasm for cryptocurrencies showed little signs of abating.

The Stoxx Europe 600 Index advanced 0.1 percent as of 10:40 a.m. London time, the highest in a week. The MSCI All-Country World Index jumped 0.1 percent to the highest on record. The U.K.’s FTSE 100 Index gained 0.1 percent to the highest in more than two months. Germany’s DAX Index increased 0.1 percent to the highest on record.

In Asia, Japanese stocks extended gains, with the Nikkei 225 Stock Average ending at the highest level since 1996. Topix index increased 0.2 percent to 1,700.13, the highest in more than 10 years. The MSCI Asia Pacific Index jumped 0.4 percent to the highest in about 10 years. The MSCI Emerging Market Index gained 0.5 percent to 1,122.75, the highest in more than six years.

Gold increased 0.2 percent to $1,294.66 an ounce, the highest in more than two weeks.