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London - European stocks rose after a mixed session in Asia, while US futures also edged higher as many equity markets limped to the end of tumultuous quarter. Treasuries climbed as the dollar nudged lower, the pound fell and crude advanced.
The Stoxx Europe 600 Index headed for a third day of gains as most major country gauges traded higher. Automakers led the way after Renault SA and Nissan were said to be in talks to merge.
Earlier in Asia Japanese shares closed higher even as the yen retraced some of Wednesday’s slump, while stocks in China and Korea gained. Volumes were subdued, with many traders wrapping up ahead of a long weekend. Ten-year Treasury yields extended their drop below 2.8%.
Many investors will be glad to reach the end of a roller coaster quarter in which stellar global equity gains gave way to a volatility blow up in February and a technology-led rout in recent days. Most Western markets are set to close for Easter on Friday and many European countries also out on Monday.
“We’ve done some damage with the correction and it’s going to take some time to repair,” Bob Doll, portfolio manager and chief equity strategist at Nuveen Asset Management, told Bloomberg TV. “Expect choppy, sideways volatility.”
Elsewhere, West Texas oil was poised to end its longest losing streak in almost a month, even as U.S. crude stockpiles resumed their expansion. Gold steadied after Wednesday’s plunge.
These are the main moves in markets:
Stocks
• The Stoxx Europe 600 Index advanced 0.2% as of 10:36, the highest in more than a week.
• Futures on the S&P 500 Index gained 0.1%
• The MSCI All-Country World Index dipped less than 0.05%.
• The UK’s FTSE 100 Index advanced 0.3% to the highest in almost two weeks.
• Germany’s DAX Index jumped 0.3% to the highest in a week.
• The MSCI Emerging Market Index jumped 0.2%.
• The MSCI Asia Pacific Index climbed less than 0.05%.
Currencies
• The Bloomberg Dollar Spot Index dipped 0.1%.
• The euro climbed less than 0.05% to $1.2309.
• The British pound declined 0.2% to $1.4047, the weakest in more than a week.
• The Japanese yen advanced 0.3% to ¥106.56/$.
Bonds
• The yield on 10-year Treasuries declined two basis points to 2.76%, the lowest in more than seven weeks.
• Germany’s 10-year yield decreased less than one basis point to 0.50%, hitting the lowest in more than 11 weeks with its sixth straight decline.
• Britain’s 10-year yield dipped one basis point to 1.366%, the lowest in more than two months.
Commodities
• West Texas Intermediate crude gained 0.2% to $64.54 a barrel.
• Copper gained 0.6% to $3.02 a pound, the highest in a week.
• Gold decreased less than 0.05% to $1 324.64 an ounce, the weakest in more than a week.
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