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U.S. equity futures advanced with European stocks on Thursday and the pound strengthened as a new Brexit deal was announced, though moves eased as investors assessed its chances of winning crucial support. Treasuries led a government bond retreat.
The mood of investors had been cautious earlier in both Asia and Europe, but risk appetite returned as the U.K. and European Union said they agreed on a new withdrawal plan. Initial optimism was tempered however, as the accord must be approved by EU leaders and British MPs. A key Northern Irish party said it won't vote for the deal.
The Stoxx Europe 600 Index climbed as every major national benchmark in the region turned higher, while contracts for the three main U.S. equity gauges followed the advance. Gold slipped alongside bonds as haven demand ebbed. A gauge of the dollar also dropped.
While doubts remain, the breakthrough was enough to tip investors off the fence after a mixed bag earnings from major European companies. Unilever said growth fell short of estimates while Nestle announced a buyback. Ericsson boosted its sales target for next year. Netflix gained in early trading thanks to upbeat results on Wednesday.
Earlier in Asia, stocks fell in Tokyo, Sydney and Seoul, rose in Hong Kong and were barely changed in Shanghai. Taiwan Semiconductor, the primary chip supplier to Apple, projected current-quarter revenue ahead of analysts' estimates. The Australian dollar strengthened after the country's jobless rate unexpectedly fell and full-time employment climbed.
Here are some key events coming up this week:
Here are the main movers in markets:
--With assistance from Sybilla Gross and Adam Haigh.
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