In European Equity Markets stocks posted solid gains by the end of Friday’s session, as investors continued to digest the latest political and corporate news. On the bourses front, the FTSE 100 surpassed fellow indexes, closing up 1.67 percent as sterling came under pressure. The French CAC 40 rose 0.78 percent, and Germany’s DAX jumped 0.85 percent. Basic resources outpaced fellow groups, jumping 1.71 percent with Kaz Minerals topping the index and the STOXX 600, with the stock finishing up 10 percent.

In Currency Markets sterling fell on Friday, driving the U.S. dollar up, after British Prime Minister Theresa May said the European Union must supply an alternative Brexit proposal, saying talks had reached an impasse after the bloc’s leaders had rejected her plans without fully explaining why. The pound was down 1.5 percent on Friday, set for its biggest daily loss since June 2017. The dollar index rose 0.36 percent to 94.229 as investors consolidated positions before the weekend, but the greenback was still set for its biggest weekly decline since February.

In Commodities Markets oil prices were largely steady in highly volatile trade on Friday, with Brent briefly reaching $80 per barrel, ahead of this weekend’s meeting between OPEC and non-OPEC producers to discuss how to counter falling supply from Iran due to U.S. sanctions. The Organization of the Petroleum Exporting Countries and its allies were discussing the possibility of raising output by 500,000 barrels per day, a source familiar with the discussions told Reuters. Brent crude oil was up 13 cents at $78.83 a barrel  after earlier touching a session high of $80.12.

In US Equity Markets the S&P 500 and the Dow  touched record highs on Friday, their second session in a row, boosted by gains in the technology and consumer discretionary sectors. Nine of the 11 major S&P sectors were higher. The technology sector rose 0.31 percent. McDonald’s rose 2.1 percent after the company said it would raise its quarterly dividend by 15 percent to $1.16. The S&P 500 was up 7.14 points, or 0.24 percent, at 2,937.89 and the Nasdaq Composite was up 12.28 points, or 0.15 percent, at 8,040.51.

In Bond Markets Italian bond yields fell on Friday as investors awaited clarity on the 2019 budget and after the 5-Star Movement denied a report that Deputy Prime Minister Luigi Di Maio had threatened to pull his party out of the government. Italian bond yields were down up to 7 basis points across the curve. German bond yields extended falls after British Prime Minister Theresa May said Brexit talks with the European Union had reached an impasse, sparking a sell off in sterling and boosting demand for safe-haven assets.