Mining Companies negative
On Wednesday shares in Europe pared earlier declines and the dollar fell as traders await the Federal Reserve’s first policy decision since Jerome Powell took the helm. Treasuries steadied and oil touched a the highest in almost seven weeks.
Leisure and mining companies were among the biggest losers in the Stoxx Europe 600 Index, following a mixed performance in Asian equities. An index tracking the dollar’s value against trading partners dropped the most in two weeks. Oil advanced on renewed tension between producers Saudi Arabia and Iran. European bonds fell and the pound extended its advance after data on stronger wage growth, and before a Bank of England policy meeting. U.S. equity-index futures edged higher and gold climbed.
The Stoxx Europe 600 Index declined less than 0.1 percent as of 10:58 a.m. London time. The MSCI All-Country World Index advanced less than 0.05 percent. Futures on the S&P 500 Index climbed less than 0.05 percent. The U.K.’s FTSE 100 Index dipped 0.4 percent to the lowest in 15 months.
The euro climbed 0.3 percent to $1.2278. The Japanese yen gained 0.2 percent to 106.33 per dollar. South Africa’s rand fell 0.2 percent to 11.9875 per dollar. The British pound jumped 0.5 percent to $1.4068, the strongest in almost five weeks.
The yield on 10-year Treasuries declined less than one basis point to 2.89 percent, the first retreat in a week. Germany’s 10-year yield gained two basis points to 0.60 percent, the highest in more than a week on the biggest climb in more than a week. Britain’s 10year yield jumped five basis points to 1.494 percent, the highest in more than three weeks on the largest surge in more than three weeks.
West Texas Intermediate crude increased 1 percent to $64.15 a barrel, the highest in almost seven weeks. Gold climbed 0.4 percent to $1,315.98 an ounce, the biggest increase in more than two weeks.
This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.