In European Equity Markets the pan-European Stoxx 600 was up more than 1.7 percent following afternoon deals, hitting its highest level since December 5. All sectors and major bourses were trading in positive territory. For the week Europe’s blue chip stocks gained more than 2.2 percent. Rurope’s banking index was also in positive territory Friday morning, following a flurry of rating upgrades. Both Commerzbank and Banco Sabadell were given “buy” stock recommendations shortly after the opening bell, pushing their shares up firmly.

In Currency Markets the pound weakened on Friday as investors took profits after a stellar rally that set the currency up for its biggest weekly gain against the euro in more than a year on growing confidence that a no-deal Brexit can be avoided. The pound has risen about 1.3 percent against the euro this week, set for its biggest weekly gain since December 2017. On Friday, prominent Brexit campaigner Nigel Farage said the United Kingdom is likely to delay Brexit and another referendum is possible.

In Commodities Markets oil prices rose on Friday after an OPEC report showed its production fell sharply last month, easing some concerns about prolonged oversupply. Brent crude was up 48 cents, or 0.78 percent, at $61.66 a barrel. Brent has risen around 2 percent this week, its third straight week of gains. U.S. West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.63 percent, at $52.40 per barrel. The International Energy Agency said on Friday that U.S. oil production growth combined with a slowing global economy would put oil prices under pressure.

In US Equity Markets gains in technology and industrial stocks put Wall Street on track for their fourth week of gains on Friday, amid growing optimism that the United States and China would resolve their bitter trade dispute. Schlumberger jumped 7.03 percent after the world’s largest oilfield services provider’s quarterly revenue beat estimates. The S&P 500 was up 0.99 percent, at 2,661.98 and the Nasdaq Composite rose 0.97 percent, at 7,153.21. The energy sector, which is the best performing S&P sector so far in 2019, rose 1.46 percent, also boosted by higher oil prices.

In Bond Markets U.S. Treasury yields rose to three-week highs on Friday as investors piled back into Wall Street on hopes Washington and Beijing are moving to end their trade dispute and stronger-than-expected data on manufacturing production. The 10-year yield was poised to increase almost 9 basis points this week, which would be the biggest weekly increase since the week of Nov. 2.