A sharp decline in bond yields stabilized late on Wednesday's session to temper concerns over slowing economic growth. The sharp rally in fixed income caused a slide in equity markets in the previous session with investors fleeing to safe-haven assets.
Meanwhile, investors are also monitoring the yuan, after China's central bank set the official reference rate for the Chinese currency at 7.0039 yuan per dollar on Thursday — the weakest level since April 21, 2008. Stocks in Asia traded higher Thursday afternoon as Chinese customs data showed a surprise jump in the country's July exports despite its protracted trade war with the U.S.
Back in Europe, British Airways is resuming services after its latest IT meltdown. The airline's online check-in systems were down for 12 hours, forcing passengers to endure cancellations, delays and long lines at London airports. Earnings are also in focus for major European corporates, after German submarines-to-elevators giant Thyssenkrupp posted a net loss of 94 million euros for the quarter and posted its fourth profit warning under current boss Guido Kerkhoff.beat expectations with a second-quarter net profit of 531 million euros and backed its 2019 guidance.
Deutsche Telekom reported an increase of 7.1% for core profits, in line with expectations, while Swiss staffing group Adecco posted falling revenues during the second quarter, pointing to hiring slowdowns in Europe's automotive and manufacturing sector.
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