Europe and Asia modest to End a Volatile Week

European stocks and most Asian shares posted modest gains on Friday, as a tumultuous week of trade uncertainty and fears over global growth nears its end. U.S. equity futures also climbed as Futures on the S&P 500 Index gained 1% as of mid-day.

The three main U.S. benchmarks in New York, had a volatile session with above-average volume on Thursday. Nvidia Corp. rose more than 5% in pre-market trading after quarterly sales and profit beat estimates. The Stoxx Europe 600 Index rose 1.1%, extending gains as some U.K. stocks began trading after a delay caused by a technical glitch. Asian shares were mixed, with the Shanghai Composite Index in China climbing 0.3% and shares in Korea dipping.

Trade headlines have kept investors on edge amid volatility that’s gripped markets for most of August. China called looming U.S. tariffs a violation of accords reached by Presidents Donald Trump and Xi Jinping, while Trump said Thursday that any deal with Beijing must be “on our terms.” With traders gunning for more rate cuts from the Federal Reserve, chair Jerome Powell may give a hint of his thinking when he speaks on August 23rd at the annual central bankers retreat in Jackson Hole, Wyoming.

Most European bonds slipped, while New Zealand’s 10-year yield dropped below 1% for the first time. The yield on 10-year US Treasuries jumped three basis points to 1.56% as the yield on two-year US Treasuries gained two basis points to 1.51%. In Germany the 10-year yield increased one basis point to -0.70% as Britain’s 10-year yield climbed five basis points to 0.455%. Japan’s 10-year

On the currency front the Euro declined 0.2% to $1.1081, as the British pound jumped 0.6% to $1.2157. The onshore yuan dipped 0.1% to 7.041 per dollar and the Japanese yen fell 0.3% to 106.41 per dollar.

Elsewhere, oil headed for its first weekly gain this month. The West Texas Intermediate crude gained 1.7% to $55.42 a barrel. Iron ore climbed 0.3% to $86.75 per metric ton, while Gold decreased 0.7% to $1,512.05 an ounce.

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.