EUROPEAN MARKETS THE WEEK THAT WAS 14 SEPT

In European Equity Markets the pan-European STOXX 600 closed up 0.41 percent, however on the week, it jumped 1.15 percent. Europe’s automakers and miners were seen as some of the strongest performers during trade. Britain’s Investec jumped to the top of the European benchmark, following news the company had announced plans to hive off and separately list its asset management unit. Shire rose almost 3 percent after Takeda Pharmaceutical announced that it had received clearance in China for its proposed acquisition of the London-listed biotech firm.

In Currency Markets the dollar rose against a basket of currencies on Friday, rebounding from a near 1-1/2-month low, as upbeat U.S. economic data and higher Treasury yields rekindled some investor appetite for the greenback. The euro climbed to a two-week high earlier on Friday following the disappointing U.S. inflation data before retreating against the greenback. The common currency was down 0.2 percent at $1.16665. Sterling was 0.25 percent lower at $1.3073 after hitting $1.3145 earlier on Friday, its highest level since July 31.

In Commodities Markets oil prices were broadly flat on Friday with the market exposed to bullish and bearish sentiments as it clawed back some territory after falling by the most in a month in the previous session. Brent crude was up 3 cents at $78.21 a barrel. The global benchmark fell 2 percent on Thursday after rising on Wednesday to its highest since May 22 at $80.13. U.S. West Texas Intermediate (WTI) futures were up 16 cents at $68.75 a barrel after falling 2.5 percent on Thursday. Brent was set for a 1.8 percent weekly rise and WTI 1.5 percent.

In US Equity Markets stocks inched higher for a fifth day on Friday, as declines in real estate and utilities were offset by gains for banking stocks, driven by a rise in 10-year U.S. government bond yields above 3 percent. Financial stocks rose 0.52 percent, the most among the 11 major S&P 500 sectors. The S&P 500 rose 0.08 percent to 2,906.56 and the Nasdaq Composite 0.26 percent to 8,034.30. Walmart fell 0.6 percent after Goldman Sachs raised questions around the retailer’s purchase of a majority stake in India’s Flipkart.

In Bond Markets the 10-year U.S. Treasury yield broke above the important technical level of 3 percent on Friday following an upward trajectory through the week on solid economic data and signs the Federal Reserve is likely to raise interest rates another two times in 2018. A September rate hike has been almost fully priced in by the market, with trader expectations at 95 percent. Yields were up across the curve, with the two-year yield last at 2.778 percent and the 30-year yield last at 3.130 percent.