In European Equity Markets the pan-European Stoxx 600 closed more than 0.6 percent higher with the majority of sectors and major bourses edging higher. Media stocks were among the best performers, with Pearson leading the gains in the sector. The educational publisher said in a trading update that it was on track to grow to underlying profit this year. The stock jumped more than 7.6 percent. Ferrari led the gains and its share price hit a record high, after better-than-expected earnings led to a number of ratings upgrades for the automaker. The stock was up 7.7 percent. BNP Paribas was off by more than 1 percent after highlighting “lackluster” trading activity in Europe, during the first quarter of the year.

In Currency Markets the U.S. dollar leaped to its highest levels this year against a basket of currencies on Friday, despite disappointing U.S. employment data for April. The U.S. economy added fewer jobs than expected and although the unemployment rate fell to near a 17-1/2-year low of 3.9 percent, this was because some jobless Americans left the labor force. Average hourly earnings rose 4 cents, or 0.1 percent, last month after gaining 0.2 percent in March. The dollar index jumped to 92.90, the highest level since Dec. 28. The greenback also broke above parity with the Swiss franc, rising as high as 1.0022 francs.

In Commodities Markets oil prices rose on Friday but stayed below recent highs as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. Brent crude oil was up 70 cents at $74.31 a barrel. The global benchmark hit a 3-1/2-year closing high of $75.17 on Monday. The contract was set to end the week down 0.3 percent. U.S. light crude was 51 cents higher at $68.94, and was on track to gain just over 1 percent on the week. Trump has said that unless European allies rectify the “terrible flaws” in the international accord by May 12, he will refuse to extend U.S. sanctions relief for the oil-producing Islamic Republic.

In US Equity Markets Apple and other technology shares led a rally on Wall Street on Friday morning, helping it shrug off a choppy start following the April jobs report. Apple jumped 3.8 percent to a record high of $183.65 after Warren Buffett’s Berkshire Hathaway raised its stake in the iPhone maker. The technology sector was up 1.47 percent, giving the biggest boost to the S&P 500. The S&P 500 was up 0.89 percent, at 2,653.12 and the Nasdaq Composite rose 1.29 percent, at 7,179.54. Among stocks, Fluor Corp fell 21.2 percent, the most on the S&P, after the engineering and construction company posted a surprise quarterly loss due to issues with a gas-fired power project.

In Bond Markets Euro zone bond yields were broadly higher in late European trade on Friday, giving up earlier falls on the back of weaker-than-expected U.S. jobs data as stock markets bounced back. A subdued European session left regional bond markets taking their cue once more from the U.S. Treasury market. Most euro zone 10-year bond yields were up 2 to 4 basis points, with Germany’s 10 Bund yield 2 bps higher at 0.55 percent, having fallen to a low of 0.52 percent. Meanwhile, Italian 10-year yields under-performed in the face of political volatility. Italy’s 10-year bond yield was up almost 5 bps in late trade at 1.79 percent.