In European Equity Markets the pan-European Stoxx 600 closed up over 0.7 percent, with all sectors and major bourses in positive territory. Europe’s tech stocks were among the top performers, up around 2 percent as worries of a fresh flare-up in tensions between the world’s two largest economies cooled. The arrest of Huawei’s global chief financial officer in Vancouver on Wednesday had threatened to derail progress in U.S.-Sino trade talks. However, tech stocks pared losses Friday, with Nokia and Ericsson both trading more than 3 percent higher.

In Currency Markets the Sterling fell on Friday and was headed for a fourth consecutive week of losses as British Prime Minister Theresa May pressed ahead with plans for a parliamentary vote on her Brexit deal despite warnings it could topple her government. Sterling’s near-term fate hangs on whether May can win a majority for her Brexit deal in a vote on Dec. 11 that will define Britain’s departure from the European Union scheduled for March. The pound was down 0.2 percent at $1.2754. It also weakened 0.3 percent against the euro to 89.27 pence.

In Commodities Markets oil prices jumped more than 5 percent on Friday as big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market. Benchmark Brent crude oil rose $3.48 a barrel to a high of $63.54 before easing back to around $63.20. In early trade, Brent had fallen below $60 when it looked as if oil exporters might not agree. U.S. light crude rose $2.69 to a high of $54.18 a barrel before slipping to around $53.80. Prices fell almost 3 percent on Thursday.

In US Equity Markets a decline in technology stocks weighed on Wall Street on Friday, offseting strong oil prices and a U.S. jobs report that was tepid enough to lower bets for faster future interest rate hikes without fanning fears of an economic slowdown. The S&P 500 was down 0.26 percent, at 2,688.95 and the Nasdaq Composite fell 0.66 percent, at 7,140.47. The energy sector jumped 2.25 percent. Broadcom Inc. climbed 3.2 percent after strong demand helped the chipmaker beat quarterly revenue and profit estimates.

In Bond Markets German government bond yields rose from six-month lows on Friday as a recovery in oil prices and world stock markets took the shine off safe-haven debt markets after stellar price gains this week. German 10-year bond yields were up 3.5 basis points at 0.26 percent, rising from Thursday’s six-month low of 0.22 percent. It was set for its biggest one-day rise in just over a month. Italy’s 10-year bond yield was last down six bps at 3.14 percent.