European stocks edged higher after two days of declines, as a bout of profit taking petered out. The dollar rose and Treasuries steadied as progress continued toward negotiating a final U.S. tax bill with Republican lawmakers, Bloomberg reported.
Stoxx Europe 600 gained after technology and travel shares also rose. But metal prices drifted. Furthemore Asian equities were mixed, with stocks rising in Japan, Hong Kong and Australia and falling in China and South Korea.
The MSCI Asia Pacific Index was up after falling for eight consecutive days. Core European bonds declined while those on the periphery edged higher as German industrial output unexpectedly shrunk for a second month.
The euro was little changed as investors awaited confirmed economic growth data for the region Thursday. Sterling drifted ahead of another U.K. government proposal to solve the Irish border impasse in Brexit negotiations.
Technology stock fell, but this must be seen in the big picture, because they are still over forty percent higher year to date.
According to Bloomberg, West Texas oil traded near $56 a barrel after falling the most in two months on Wednesday as U.S. gasoline stockpiles expanded more than expected. The Australian dollar dropped to the lowest since June after October trade data missed estimates.