Daily Note



This installation, drawn by Ad Reinhardt and Mark Rothko, focuses specifically on the fertile years between the late 1940s and the early 1960s, during which each artist identified the style and format that would engage him for the rest of his career. Reinhardt’s and Rothko’s ideas about form and color challenged and reconsidered European artistic traditions and philosophies, giving rise to a unique American sensibility in art in general, and particularly in painting. Their paintings were characterized not by the grand, expressive gestures and brushwork of their Abstract Expressionist colleagues, including Jackson Pollock and Willem de Kooning, but rather by subtleties in color, form, and composition.


In European Equity Markets the pan-European Stoxx 600 ended Tuesday flat with a number of sectors trading in positive territory. Most positive sentiment was partially driven by corporate earnings. Straumann was among the top-performing stocks, after reporting an organic sales growth of about 20 percent for the first time in 10 years. RWE ended higher by 3.6 percent after the German firm announced that it still planned to increase its dividend for the 2018 fiscal year. Antofagasta, on the other hand, fell to the bottom of the European benchmark, down by more than 6.4 percent.

In Currency Markets the euro recovered on Tuesday from earlier losses linked to the decline of the Turkish lira, but investors said the exposure of European banks to Turkey would continue to trouble the single currency. The lira has lost more than 40 percent of its value against the dollar this year, hit by worries over President Tayyip Erdogan’s calls for lower interest rates and fraying ties with the United States. On Tuesday, however, the lira recovered some ground, trading at 6.60 to the dollar, up around 5 percent on the day, after having fallen to an all-time low of 7.24 on Monday.


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