In European Equity Markets the pan-European STOXX 600 ended down 0.5% on Friday, autos leading the losses with a fall of 1%. The notable contributor to auto losses was BMW, which saw its shares fell 5.9%. British low-cost airline EasyJet reported a pre-tax loss for the first-half of fiscal 2019 of £272 million ($348.6 million), compared with a loss of £68 million in fiscal 2018. The company’s shares closed up 3.3%. Swiss watch maker Richemont posted a full year net profit of 2.79 billion euros, up from 1.22 billion euros in 2018. Richemont shares traded 1.7% higher.

In Currency Markets Sterling dived to a four-month low on Friday after cross-party Brexit talks collapsed and concern grew about the impact Prime Minister Theresa May’s likely resignation would have on Britain’s EU divorce. Sterling was down for a tenth consecutive session, touching a four-month low of $1.2733 and falling 0.6% against the euro to 87.61 pence, the lowest since February 15. It is now set for its worst week since February 2018, and a further fall would make it one of the worst weeks in well over a year.

In Commodities Markets oil edged up towards $73 a barrel on Friday, heading for a weekly gain, supported by supply cuts and concern over potential further disruption to Middle East shipments as political tensions rise. U.S. sanctions on Iran have cut the OPEC member’s crude exports further in May, adding to supply curbs implemented through an OPEC-led pact. Brent crude was up 4 cents at $72.66 a barrel. The global benchmark is up almost 3 percent this week, having ended last week steady and fallen the week before. U.S. WTI crude added 31 cents to $63.18.

In US Equity Markets stocks slipped on Friday, after three straight sessions of gains, as trade tensions were renewed after Chinese media took a hardline approach to the tariff dispute between the United States and China. The S&P 500 was down 0.40%, at 2,864.76 and the Nasdaq Composite fell 0.47%, at 7,861.31. Apple Inc fell nearly 1.2% also weighed down by Nomura Instinet’s price target cut on its stock, citing headwinds from the tariff war. Applied Materials Inc gained 4.9%, after the chip gear maker’s upbeat third-quarter profit eased concerns about waning chip demand.

In Bond Markets German bond yields fell back towards more than 2-1/2 year lows on Friday as the collapse of Brexit talks in Britain boosted higher-rated debt and worsened a mood among investors already nervous about trade tensions. Both French and Dutch 10-year government bond yields touched 2-1/2 year lows. The 10-year British government bond yield dropped almost six basis points. The benchmark German 10-year bond yield touched as low as -0.129%, near -0.132%, its lowest since September 2017 that was hit on Wednesday.