In European Equity Markets stocks rose on Friday as investors maintained strong flows into the region but top regional benchmarks came off earlier highs after a disappointing U.S. jobs growth. The pan-European STOXX 600 ended up 0.2 percent. Germany’s DAX rose 1.25 percent and UK’s FTSE added 0.05 percent. Supporting the DAX were gains among carmakers after better than expected U.S. car sales data, as well as in Linde after boards approved a $73 billion merger deal with U.S. peer Praxair to create an industrial gases leader. B&M European Value Retail was down 2.5 percent after private equity firms CD&R and SSA sold a 12.5 percent stake in the firm.

 

In Currency Markets the dollar fell to seven-month lows on Friday after data showed the U.S. economy created fewer jobs than expected last month, which could derail a possible interest rate hike by the Federal Reserve in the second half of this year. The euro was 0.5 percent higher against the dollar to $1.1265  after earlier rising to a seven-month peak of $1.1282. Against the yen, the dollar fell from one-week highs and last changed hands at 110.74 yen, down 0.5 percent. The dollar also slid to seven-month troughs versus the Swiss franc, trading last at 0.9664 franc, down 0.5 percent. The dollar index fell to a seven-month low and was last down 0.3 percent at 96.873.

 

In Commodities Markets crude fell 1 percent on Friday, heading for a second straight week of losses, on worries that U.S. President Trump’s decision to withdraw from a global climate accord could ultimately result in an overabundance of oil production. Brent crude futures were off 0.9 percent, at $50.19 per barrel, while U.S. West Texas Intermediate crude futures fell 1 percent, to $47.90 per barrel. Spot gold was rose 0.7 percent to $1,274.39 an ounce, its highest since April 25, headed for its fourth week of gains. Silver rose 0.7 percent to 17.39 per ounce while platinum firmed 1 percent to $937, but poised to end the week lower. Palladium was up 1.4 percent at $834.97 an ounce after earlier touching $835.90, its highest level since September 2014.

 

In US Equity Markets stocks eked out record highs on Friday but gains were limited as data showed job growth slowed in May, suggesting that a bounce in the labor market was losing steam. The Dow was up 0.18 percent, at 21,181.91, the S&P 500 was up 0.13 percent, at 2,433.44 and the Nasdaq Composite was up 0.46 percent, at 6,275.58. Eight of the 11 major S&P sectors were higher, with the industrial and healthcare sectors leading the gainers.  Broadcom rose as much as 7.5 percent after the chipmaker’s quarterly results beat analysts’ expectations. Lululemon Athletica jumped 14.9 percent after the athletic apparel maker’s quarterly profit beat estimates.

 

In Bond Markets benchmark and long-dated U.S. Treasury yields fell to nearly seven-month lows, and short-dated yields touched their lowest in more than two weeks on Friday after weaker-than-expected U.S. employment data suggested a cautious Federal Reserve policy beyond June. Nonfarm payrolls increased 138,000 last month as the manufacturing, government and retail sectors lost jobs, the Labor Department said. U.S. 10-year Treasuries were last up 15/32 in price, with yields falling to 2.164 percent from 2.217 percent late on Thursday. The two-year was up 1/32 in price, and its yield fell to 1.278 percent from 1.298 percent.

 

 

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