European stocks positive

On Wednesday European stocks advanced as Daimler AG’s results provided a dose of cheer to offset recent caution. Havens including gold and Treasuries steadied while oil gained on the prospect of an extension to production cuts.

The Stoxx Europe 600 Index rose for the first day in three, boosted by auto shares after Daimler said first-quarter profit almost doubled on surging demand. The yield on 10-year U.S. notes was little changed after closing Tuesday below 2.3 percent for the first time in four months. Crude climbed a seventh day as Saudi Arabia was said to support an extension of OPEC-led output cuts.

Global equity markets are entering a key period, with the earnings season ramping up against a backdrop of mounting geopolitical tensions around Syria and North Korea as well as elections in Europe. U.S. President Donald Trump’s struggle to push through his fiscal agenda and the debate over the pace of monetary policy adjustment in the world’s biggest economy also cloud the picture.

The Stoxx Europe 600 rose 0.3 percent, paring an earlier advance; Daimler shares climbed 1.1 percent. Futures on the S&P 500 were little changed, paring an earlier gain. The benchmark gauge finished 0.1 percent lower on Tuesday.

Oil advanced for an eighth day in London, the longest gain since 2012, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as stockpiles show signs of shrinking.

Brent futures rose 0.6 percent, after rising 6.4 percent in the previous seven sessions. Gold was 0.1 percent lower at $1,273.95 an ounce, after jumping 1.6 percent on Tuesday to the highest since Nov. 9.

South Korean stocks and the won gained for the first time in seven days, and Hong Kong equities erased losses to rally in late trading. Japan’s Topix fell to the lowest level of the year as exporters and banks tumbled on the yen’s earlier strength.