In European Equity Markets the pan-European Stoxx 600 jumped 0.85% by the closing bell, with industrials and technology stocks leading gains. Virgin Money shares gained 3.9% after the bank said its chairman Jim Pettigrew is planning to retire by September 2021. Carrefour added 4.8% after the French retailer reported a rise in fourth-quarter sales. Remy Cointreau shares fell 11.1% after the French spirits group posted a worse-than-expected 11.3% fall in third-quarter like-for-like revenues and suspended its guidance.

In Currency Markets the U.S. dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that European central bank policymakers will maintain a loose monetary policy for the near future. The euro was 0.21% lower against the greenback at $1.1029. The euro is set for its worst start to the year in five years, down 1.5% so far this month, and trading at its lowest levels since Dec. 2.

In Commodities Markets oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply. Global benchmark Brent was down $1.13 to $60.91. The contract is down over 6% this week, its third consecutive weekly drop. U.S. crude fell 93 cents to $54.66 and was also on course for a weekly decline.

In US Equity Markets indices came under pressure on Friday as investors sold energy, financial and healthcare stocks on mounting fears over the coronavirus outbreak in China, while strong gains for chipmaker Intel limited losses on the main indexes. The S&P 500 fell 0.18% to 3,319.55 and the Nasdaq Composite was up just 0.03% at 9,405.48. Chipmaker Intel Corp jumped 7.2% to hit a 19-year high after it forecast better-than-expected 2020 earnings, joining many of its peers to signal a recovery in chip demand.

In Bond Markets U.S. Treasury prices advanced on Friday, pushing yields lower for a fourth straight session, as the uncertainty surrounding the latest coronavirus from China continued to undermine risk appetite and spur demand for safe-haven assets. U.S. 10-year yields have lost nearly 13 basis points this week, on track for its largest weekly drop in about 3-1/2 months. Thirty-year yields, on the other hand, have fallen roughly 14 basis points this week, its biggest weekly decline in four months.