In European Equity Markets the pan-European Stoxx 600 closed up almost 1.1 percent, with almost all sectors and major bourses in positive territory. Vopak was the top performer Friday jumping 13 percent after its latest figures beat market expectations. The Dutch oil and chemical company said full-year results were lifted by a stronger-than-anticipated performance in the final three months of the year. French carmaker Renault said operating profit had hit an all-time high in 2017 on Friday, emboldening CEO Carlos Ghosn’s position amid domestic pressure to outline a clearer succession plan. Its shares were trading up 2 percent. Swedish defense firm Saab posted worse-than-expected earnings, sending shares down almost 1 percent.

In Currency Markets the pound fell on Friday after the dollar clawed back some ground and retail sales data disappointed, with traders watching for any positive signs from a visit to Berlin by Prime Minister Theresa May. May will meet German leader Angela Merkel, hoping to make progress on overcoming a near-deadlock on agreeing the terms of Britain’s exit from the EU next year. The British currency fell 0.4 percent to $1.4045 after trading as high as $1.4145 in Asian trading, with analysts saying most of Friday’s sterling weakness was driven by a recovery by the dollar after a poor week. Against the euro, the pound traded down 0.1 percent at 88.88 pence per euro. Sterling is up more than 4 percent against the dollar this year and in January, trading at $1.4346, it hit its strongest level since the Brexit vote in June 2016.

In Commodities Markets oil prices stood near a one-week high on Friday as global equities headed for their biggest weekly gain in six years as the dollar slipped to a three-year low. U.S. West Texas Intermediate crude for March delivery was down 20 cents at $61.15 a barrel, having touched a one-week high of $61.89. The U.S. crude contract has risen by about 3 percent on the week after losing nearly 10 percent last week. London Brent crude was up 5 cents at $64.38. Brent is up nearly 3 percent for the week after a decline of more than 8 percent last week. Gold rose to a three-week high on Friday as the dollar index slid to a three-year low and stronger-than-expected inflation data this week boosted interest in the metal as a hedge against price pressures. Spot gold has risen 3.2 percent so far this week.

In US Equity Markets indices were trading flat on Friday as lower U.S. crude oil prices and disappointing earnings reports from Kraft Heinz and other consumer companies sapped some of the momentum built in the past five sessions. Kraft Heinz fell more than 5 percent after the company’s quarterly profit and sales missed analysts’ estimates due to lower shipments for nuts, natural cheese and cold cuts in the United States. VF Corp fell 7.5 percent after the apparel and footwear maker reported quarterly profit and revenue slightly below analysts’ estimates. Energy stocks were a bigger drag though, falling 0.75 percent as U.S. crude prices fell half-a-percent. Helping limit the losses were gains in healthcare and technology stocks, two of the four sectors among the 11 major S&P sectors that were higher.

In Bond Markets borrowing costs across the euro area fell on Friday, though expectations for higher inflation and steps towards tighter monetary policy from major central banks weighed on sentiment across world bond markets. Short-dated bond yields in Germany, the euro zone’s benchmark bond issuer, have risen by about 7 basis points this week, set for their biggest weekly rise in eight weeks. Southern European bonds in particular outperformed, with Portuguese and Italian 10-year bond yields both hitting a one-week low. Italy’s 10-year bond yields dropped by almost 7 bps to as low as 1.997 percent. Germany’s benchmark Bund yield was down 5 bps at 0.71 percent, off recent 2-1/2 year highs.