European stocks rose while United States (US) futures were little changed on Friday as oil prices steadied, though global equities remained on track for their steepest weekly drop in a year as the conflict in the Middle East showed few signs of easing.
Currencies also stabilised, with the Dollar flat after rising around 1.4% this week. Asian stocks inched up while Treasuries steadied as investors awaited key US jobs data later in the day.
“Global markets are looking more positive today, if only a touch, largely driven by a let-up in oil prices after a volatile week for energy markets,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
Europe’s STOXX 600 rose 0.45% in early European trading, with Germany’s DAX and Britain’s FTSE 100 up 0.75% and 0.48% respectively.
Futures for the US Standard & Poo’s 500 and Nasdaq indices were unchanged.
The US, Israel war on Iran convulsed global markets this week and left investors seeking the safety of cash, as they sobered up to the fact that the conflict could drag on longer than initially anticipated.
–Reuters–
