Risk sentiment improved on Thursday, before late-session Hormuz tensions soured it. In commodities, crude oil prices reversed course and ended the day rising after of a missile strike on a container vessel in Hormuz, while natural gas prices of European benchmarks fell. Gold rose on safe-haven demand.
Sovereign bond yields fell slightly on both sides of the Atlantic. Eurozone short-term rates were down as investors' expectations for an ECB's third rate hike in this cycle eased. In the US, short-term Treasury yields fell after the PCE print for May came in slightly below expectations in the month-on-month reading.
In this context, in currency markets the euro appreciated sligthly against its peers. In stock markets, Asian indices had risen earlier in the session, as the partial Hormuz reopening and strong results from Micron due to high demand for chips lifted sentiment on tech stocks. European indices rose too, while in the US the S&P closed flat and the Nasdaq declined.
BANCO BPI, S.A., com sede na Avenida da Boavista, 1117, 4100-129 Porto; Capital Social: € 1 293 063 324,98; matriculada na CRC Porto sob o número de matrícula PTIRNMJ 501 214 534, como o número de identificação fiscal 501 214 534. Intermediário financeiro registado na CMVM com o n° 300 e no Banco de Portugal sob o código n° 10. Agente de Seguros n.º 419527591, registado junto da Autoridade de Supervisão de Seguros e Fundos de Pensões em 21/01/2019, e autorizado a exercer atividade nos Ramos de Seguro Vida e Não Vida.