In European Equity Markets the pan-European Stoxx 600 closed up by more than 2%, with bank shares rising close to 5% higher as most sectors and all major bourses traded in positive territory. In corporate news, Renault ousted CEO Thierry Bollore in a shareholder vote on Friday morning, naming CFO Clotilde Delbos as its interim CEO with immediate effect. Shares of the automaker were trading 5% higher on the back of the news. Publicis meanwhile fell 14.5% to the bottom of the Stoxx 600 after the world’s third-largest advertising company cut its full-year sales target again.
In Currency Markets the Canadian dollar strengthened to a four-week high against its U.S. counterpart on Friday after domestic data showing a much bigger-than-expected jobs gain in September supported bets for the Bank of Canada to keep interest rates on hold this month. The Canadian economy added 53,700 jobs in September, the second straight month of robust jobs gains, Statistics Canada data showed. Analysts had forecast a gain of 10,000 jobs. The Canadian dollar was trading 0.6% higher at 1.3218 to the greenback
In Commodities Markets oil prices rose as high as $60.65 a barrel on Friday after Iranian media said a state-owned oil tanker had been attacked in the Red Sea near Saudi Arabia, but bearish oil demand forecasts soon pulled crude off session highs. The Iranian Suezmax crude tanker was struck in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, with various reports differing on the level of damage caused. Brent crude futures were up 73 cents at $59.83 a barrel and U.S. WTI crude futures rose 62 cents to $54.17.
In US Equity Markets indices rose for the third straight session on Friday, as investors expected top-level trade talks between the United States and China to result in a partial trade deal and delay planned U.S. tariff increases. Shares of Apple Inc hit a record high and were the biggest boost to the S&P 500 and Nasdaq, while the technology sector was headed for its best day in five weeks. The S&P 500 was up 1.56%, at 2,983.96 and the Nasdaq Composite rose 1.75%, at 8,090.05.
In Bond Markets Irish government bonds rallied on Friday, outperforming their euro zone peers on hopes that a Brexit deal was now in sight. An agreement that would help Britain leave the European Union in an orderly fashion could still happen, Irish Prime Minister Leo Varadkar said on Thursday, after what he called a very positive meeting with British Prime Minister Boris Johnson. Outside Ireland, 10-year bond yields across the bloc rose 4-5 bps as Brexit deal hopes and optimism over U.S./China trade talks dented safe-haven markets.