LONDON (Reuters) – World stocks edged higher on Friday and oil prices rallied more than 2%, as sentiment revived after a week pressured by deteriorating U.S.-China relations.
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville
Oil prices rose to their highest levels in more than a month on signs that demand from China is picking up and data showed China’s industrial output in April expanded for the first time this year.
European shares were broadly higher, with stock markets in London, Paris and Frankfurt tracking overnight gains in U.S. and Asian markets.
U.S. stock market futures however were mixed, highlighting a degree of caution among investors.
After a bruising week, a broad measure of European stocks was set to end the week 3% lower – the biggest weekly fall since the mid-March rout in global stocks.
MSCI’s world stock index, a touch firmer on Friday, is down around 2.5% this week.
GRAPHIC: MSCI world stock index, weekly change – here
Analysts said this week’s drop, while a natural correction after