In European Equity Markets the pan-European Stoxx 600 closed 0.12 percent up with all major bourses above the flat line, although business sectors revealed a mixed bag. Basic resources was easily the top gainer mid-afternoon, closing around 1.4 percent higher. Stora Enso rose during the final hours of trading to finish 3.6 percent in the green after reporting higher-than-expected first-quarter profits. Retail was the worst performing sector, closing 0.8 percent to the downside. British stationer WHSmith dragged the sector lower and closed 6.5 percent down. The firm reported a 1 percent decline in interim pre-tax profit for the six months to February 28 earlier this week as the U.K. retail space remains under pressure.

In Currency Markets the US dollar climbed to a seven-week high against the yen on Friday as investors’ focus shifted to anticipated strong U.S. corporate earnings and away from concerns about a possible Western military intervention in Syria. The dollar rose 0.3 percent to 107.740 yen, taking it to its highest since late February. The Australian dollar, which is sensitive to shifts in risk sentiment, rose 0.6 percent to $0.7801, a three-week high. The euro traded flat at $1.2328 after losing 0.3 percent the previous day, which ended a four-day winning run. The Swiss franc, a perceived safe-haven currency, was little changed at 0.9534 per dollar after losing 0.5 percent overnight.

In Commodities Markets oil prices rose on Friday, headed for their largest weekly gain since July on support from concerns about geopolitical risk after and reports of dwindling global oil stocks. Brent crude recovered from losses early in the session and was up 50 cents at $72.52 a barrel, set for about a $5 weekly gain, or almost 8 percent. U.S. crude for May delivery rose 28 cents to $67.35, up more than 8 percent for the week. On Wednesday, both oil benchmarks hit their highest since late 2014 after U.S. President Donald Trump warned missiles “will be coming” in response to a suspected gas attack in Syria and after Saudi Arabia said it intercepted missiles over Riyadh.

In US Equity Markets major indexes fell on Friday morning, erasing all their gains coming out of the opening bell as JP Morgan led a sharp reversal in financial stocks. JP Morgan fell 1.7 percent after its profit missed estimates as lower investment banking revenue offset gains from higher interest rates and a jump in trading revenue. Shares of Wells Fargo also shed pre-market gains to fell 2.9 percent after the bank said it may have to pay a penalty of $1 billion to resolve investigations. The S&P 500 banks index was down 1.98 percent. The S&P 500 was down 0.21 percent, at 2,658.52 and the Nasdaq Composite was down 0.41 percent, at 7,110.86.

In Bond Markets the U.S. Treasury yield curve hovered at its lowest level in more than decade on Friday as short-dated yields have risen more than longer-dated ones this week on expectations of further interest rate increases from the Federal Reserve. The yield on 10-year Treasury notes was up 0.9 basis points to 2.843 percent. Two-year Treasury note yield was up 0.9 basis points to 2.365 percent. The U.S. Treasury sold a combined $64 billion worth of three-year, 10-year and 30-year securities to fair demand this week.