CLOSE APR5

​In European Equity Markets stocks edged higher on Friday, as the U.S. posted a solid rebound in job creation in March. The pan-European Stoxx 600 closed 0.24 percent higher during trade, with all major bourses in positive territory. Looking at individual stocks, Italy's Saipem closed towards the top of the European benchmark after reportedly securing offshore drilling contracts in Norway and the Middle East for a total of $200 million. Shares of the Milan-listed stock rose over 3 percent on the news.



In Currency Markets sterling weakened on Friday as doubts swirled over British Prime Minister Theresa May’s attempt to further delay Brexit. May wrote to Brussels asking to delay Britain’s EU departure until June 30 to allow lawmakers to agree a withdrawal deal. But France and the Netherlands expressed doubt about the plan and that, combined with lingering fears of a no-deal Brexit, sent the pound to a session low of $1.3014, down 0.4 percent on the day. The impact of a long Brexit delay on sterling is unclear.



In Commodities Markets oil prices reversed earlier losses on Friday as fears that an escalating conflict in Libya could disrupt oil supplies from the OPEC member outweighed trade concerns. Brent crude futures rose 34 cents to $69.74 a barrel, having touched $70.03 in the previous session, its highest since Nov. 12. U.S. WTI crude rose by 49 cents to $62.59, having hit their highest since Nov. 7 on Wednesday at $62.99. Brent and WTI are on track for their second and fifth consecutive weeks of gains respectively, capped by concerns that an economic slowdown could dent fuel consumption.



In US Equity Markets indices rose on Friday after data showed U.S. employment growth was better-than-expected in March, easing concerns of a domestic slowdown, while hopes of a U.S.-China trade deal boosted sentiment. The S&P 500 was up 0.41%, at 2,891.26 and the Nasdaq Composite rose 0.51%, at 7,932.30. Energy stocks jumped 1.27%, the most among the ten major S&P indexes that were trading higher. Intel Corp fell 1.1% after Wells Fargo downgraded the chipmaker’s stock to “market perform” from “outperform”.



In Bond Markets government bond yields in Europe rose on Friday after U.S. President Donald Trump said a trade deal with China may be reached within four weeks. The German 10-year Bund yield, the benchmark for the euro zone, hit a two-week high at 0.024 percent. It was last hovering around zero percent, up around a basis point on the day. The benchmark 10-year U.S. Treasury yield was last trading a touch lower on the day at 2.50 percent.