European stocks rose with U.S. futures, adding to momentum from Asia, as the panic surrounding a potential global trade war showed signs of easing. Treasury yields edged higher and the dollar was steady, while the euro fell and oil climbed.

Every sector advanced in the Stoxx Europe 600 Index, which jumped following three days of losses. Earlier in Asia, shares in Japan and China both reversed declines, though the Shanghai Composite Index remained below the 3,000 level it fell through on Tuesday. Oil rose before OPEC members meet at the end of the week. The euro fell after ECB Governing Council member Ewald Nowotny commented on diverging rate paths between the U.S. and Europe. The pound edged lower before a key Brexit vote.

A sense of calm is returning to markets after President Donald Trump stepped up trade threats against China earlier in the week, proposing moves that economists reckon could cut as much as half a percentage point from the Asian nation’s growth. PBOC Governor Yi Gang may have reassured traders by pledging to use monetary policy “comprehensively” amid any shocks, or they may well be siding with Goldman Sachs CEO Lloyd Blankfein -- he characterized the escalation as simply a negotiating strategy.

Assets in emerging markets have been hit especially hard as the tensions coincide with accelerating monetary tightening in the U.S. But developing-nation stocks rose on Wednesday, paring some of their plunge a day earlier. Turkey’s lira fell again, before an election this weekend.

Elsewhere, the onshore yuan climbed after the People’s Bank of China set its daily reference rate at a stronger level than all analyst and trader projections.

Here are the main market moves:

Stocks

The Stoxx Europe 600 Index climbed 0.8 per cent as of 10:56 a.m. London time. Futures on the S&P 500 Index increased 0.3 per cent. The U.K.’s FTSE 100 Index surged 1.2 per cent, the largest jump in six weeks. Germany’s DAX Index gained 0.4 per cent. The MSCI Emerging Market Index climbed 0.7 per cent, the first advance in more than a week and the largest increase in more than two weeks. The MSCI Asia Pacific Index climbed 0.6 per cent, the first advance in more than a week and the biggest increase in more than two weeks.

Currencies
The Bloomberg Dollar Spot Index increased less than 0.05 per cent to the highest in more than 11 months. The euro decreased 0.2 per cent to $1.1567, the weakest in more than three weeks. The British pound fell 0.1 per cent to $1.3159, the weakest in about seven months. The Japanese yen declined less than 0.05 percent to 110.11 per dollar. The Turkish lira sank 0.2 per cent to 4.7513 per dollar, the weakest on record.

Bonds

The yield on 10-year Treasuries rose one basis point to 2.90 percent, the first advance in a week and the biggest advance in more than a week. Germany’s 10-year yield increased less than one basis point to 0.38 percent, the first advance in more than a week. Britain’s 10-year yield gained one basis point to 1.283 percent, the first advance in more than a week. Italy’s 10-year yield decreased two basis points to 2.535 per cent, the lowest in almost four weeks.

Commodities
West Texas Intermediate crude rose 0.7 per cent to $65.52 a barrel. Gold dipped 0.2 per cent to $1,272.50 an ounce, the weakest in six months. Brent crude gained 0.7 per cent to US$75.59 a barrel.