European shares and the dollar are increasing - market wrap

European stocks advanced, rebounding after three days of declines amid a series of market reversals. Gold headed for the first drop in four days, while the dollar swung before climbing as investors await Wednesday’s U.S. interest rate decision.

Most industry sectors rose as the Stoxx Europe 600 Index increased, with banks leading the way.

The greenback strengthened with the euro, which flirted once again with its highest level in two years after German business confidence data beat expectations. Saudi Arabia’s promise to further cut crude exports spurred oil toward a second day advancing.

Here are the main moves in markets:

Currencies

The euro rose 0.1 percent to $1.1656 as of 11:04 a.m. in London.

The Bloomberg Dollar Spot Index climbed 0.1 percent, poised for the biggest increase in three weeks.

The British pound fell 0.1 percent to $1.3011.

The Japanese yen dipped 0.3 percent to 111.40 per dollar, the first retreat in more than a week.

Stocks

The Stoxx Europe 600 Index rose 0.6 percent.

The MSCI All-Country World Index rose 0.1 percent.

Germany’s DAX Index gained 0.5 percent, the biggest rise in almost two weeks.

Futures on the S&P 500 Index added 0.1 percent after the underlying gauge slipped 0.1 percent on Monday.

Commodities

Gold dipped 0.4 percent to $1,250.67 an ounce, the largest decrease in more than two weeks.

West Texas Intermediate crude rose 1.1 percent to $46.84 a barrel.

Source: Bloomberg Pro Terminal

Junior Trader Stefan Panteleev

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