In European Equity Markets the pan-European Stoxx 600 fell 0.32% below the flatline, with basic resources falling more than 2% to lead losses. Telecoms, banks and utilities bucked the trend to move higher. Norsk Hydro shares fell 8% to the bottom of the Stoxx 600 after the aluminum and renewable energy firm posted a far smaller-than-expected rise in fourth-quarter earnings, citing low metals prices. Enjoying contrasting fortunes was Norwegian fertilizer producer Yara, which climbed 5.3% after reporting stronger-than-expected profits before the bell.

In Currency Markets the pound edged up on Friday, but was headed for its biggest weakly fall since December’s UK election as investors priced in the risk of Britain failing to agree a trade deal with the EU in the 11 months left of the Brexit transition period. Against the dollar, the pound rose 0.1% to $1.2939, but was set to end the week with a 2% decline, its biggest weekly decline since mid-December. Against the euro, which has been hit by a stronger dollar, sterling was up 0.3% to 84.75 pence

In Commodities Markets oil prices fell on Friday as Russia said it would need more time before committing to output cuts along with OPEC and other producers amid falling demand for crude as China battles the coronavirus epidemic. Brent crude futures fell 60 cents, or 1.1%, to $54.33 a barrel, and were heading for a fifth weekly loss due to persistent concerns over the impact of the virus. U.S. WTI crude futures were down 70 cents, or 1.4%, at $50.25 a barrel, also heading for a fifth consecutive week of losses.

In US Equity Markets indices pulled back from record levels on Friday, as investors assessed the U.S. employment report that showed jobs growth accelerated in January but included a downward revision to some previous numbers. The S&P 500 fell 0.44% to 3,331.09 and the Nasdaq Composite declined 0.56% to 9,519.02. Uber Technologies Inc shares gained about 5.7% after the ride-hailing company moved forward by a year its target to achieve a measure of profitability to the fourth quarter of 2020.

In Bond Markets Euro zone bond yields fell on Friday after data showing German industrial output in December suffered its biggest fall since January 2009 fanned concerns about the economic outlook for the bloc’s biggest economy. Across the euro area, 10-year bond yields were down 1-2 bps but off their lows. Greek government bonds were the clear out-performer, with the 10-year yield down 8 bps to 1.06%, after hitting record lows on Thursday on optimism after the euro zone bailout fund waived a compulsory payment due from Cyprus.