In European Equity Markets the pan-European Stoxx 600 closed up 0.6%, with almost all sectors and major bourses in positive territory. The benchmark nudged just 0.16% lower for the week. Europe’s autos and mining stocks – with their heavy exposure to China – led the gains Friday, with the latter finishing 2.9% higher. Sweden’s Loomis rose toward the top of the European benchmark. The cash handling company reported an increase in third-quarter revenue on Friday morning, with shares up more than 6%
In Currency Markets sterling edged higher on Friday and is poised to end the week on a stronger note, unmoved by Nigel Farage’s announcement that his Brexit Party would fight the ruling Conservatives for every seat if Britain’s prime minister does not abandon his Brexit deal. Farage said Boris Johnson had until Nov. 14 to agree to his demand. The pound edged 0.1% higher at $1.2946 thanks to a broad weakness in the greenback and is poised to register a tiny 0.9% gain for the week. Against the euro, sterling was a shade weaker at 86.25 pence.
In Commodities Markets oil prices rose 2% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers. Brent crude was up $1.16, or 2%, at $60.78 a barrel, but remained on course for a declined of about 2% for the week. West Texas Intermediate crude rose $1.1, or 2%, to $55.28 a barrel, a weekly loss of more than 2.4%.Both benchmarks fell earlier in the week after in hike in U.S. crude inventories.
In US Equity Markets indexes advanced on Friday, as investors took comfort from data that showed U.S. jobs growth slowed less than expected in October and China’s factory activity expanded at its fastest pace in more than two years. The S&P 500 rose 0.76%, at 3,060.65 and the Nasdaq Composite gained 0.86%, at 8,363.66. Qorvo Inc jumped 18% after the Apple supplier announced a $1 billion share buyback plan and forecast third-quarter revenue above expectations. Pinterest Inc fell 21% after the online scrapbook company missed quarterly revenue estimates.
In Bond Markets Euro zone government bond yields pushed higher on Friday as the market took positive signs from U.S. data releases and Christine Lagarde began her presidency of the European Central Bank. Most 10-year bond yields in the bloc rose around two basis points on the day after striking two-week lows on Thursday. Positive U.S. data readings eased demand for safe-haven government bonds. Germany’s 10-year Bund yield was at -0.38%,, off Thursday’s low of -0.42%.