In European Equity Markets stocks lost value on average at the end of the week, as key leaders congregated for a major event in Argentina. By the close the pan-European Stoxx 600 was 0.25 percent lower with the different sectors struggling to make clear gains.The European index shed 0.92 percent for the week. The FTSE 100 in London closed down by 0.97 percent provisionally, dragged lower by the high number of mining stocks that lost value over the session. Shares of Deutsche Bank traded below the flat-line once again, slipping 3.11 percent.
In Currency Markets the US dollar edged higher on Friday as investors prepared for the fallout from trade talks between the United States and China at the G20 meeting on Saturday, which investors expect will increase volatility across markets. Sterling fell on Friday and was headed for a third consecutive week of losses as caution grew among investors about the British parliament’s vote on Brexit next month. The pound was down 0.3 percent at $1.2756 against a resurgent dollar. Against the euro, it was also down 0.3 percent at 88.24 pence.
In Commodities Markets oil prices fell further on Friday as swelling inventories depressed sentiment despite widespread expectations that OPEC and Russia would agree some form of production cut next week. The two global oil benchmarks, North Sea Brent and U.S. light crude, have had their weakest month for more than 10 years in November, losing more than 20 percent as global supply has outstripped demand. Brent fell $1.20, or 2.0 percent, to a low of $58.31 a barrel on Friday, before recovering to around $58.50.
In US Equity Markets stocks were trading flat on Friday as investors stayed away from making bets ahead of a much-awaited meeting between the United States and China that could decide the course of a bitter trade dispute between the two economies. The S&P 500 was up 0.11 percent, at 2,740.77 and the Nasdaq Composite 0.21 percent, at 7,288.38. Marriott International Inc fell 4.9 percent after the company said a guest reservation database of its Starwood Hotel brand was breached, potentially exposing information on about 500 million guests.
In Bond Markets Euro zone government bond yields traded near three-month lows on Friday, pinned lower by a fall in core inflation, while Italian debt was steady after expectations for a budget compromise with the European Union sent them lower this week. The 10-year German government bond hit its lowest point since Aug. 21 at 0.305 percent before pulling back to 0.312 . The 5-year bond was also close to a three-month low at -0.269 percent.