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Outlook: Global markets mostly edged up on Friday

A trader watches the screen on the floor of the New York Stock Exchange December 1, 2008.     REUTERS/Brendan McDermid

A trader watches the screen on the floor of the New York Stock Exchange December 1, 2008. REUTERS/Brendan McDermid

REUTERS/Brendan McDermid

18 June 2017
MSCI's index of stock markets across the world rose 0.3 percent on Friday, while European shares added 0.6 percent, rebounding from recent losses.

In the foreign exchange market, the U.S. dollar fell against a basket of key currencies after the day's data, which raised concerns about spending. It was last down 0.3 percent after the day's data.

The weaker-than-expected U.S. data also weighed on U.S. Treasury yields as it fueled uncertainty about the U.S. rate outlook.

Stock markets in the Gulf were mixed on Thursday, with Dubai rising despite a fall in crude oil prices, while Saudi Arabia's decline was cushioned by hopes it will be put on review for possible emerging market status. Riyadh's stock index lost 0.5 percent after Brent crude dipped below $47 a barrel.

Oil prices staged a modest rebound on Friday as some producers reduced exports and U.S. rig additions slowed.Brent crude futures rose 45 cents to settle at $47.37 per barrel, while U.S. crude settled at $44.74, up 28 cents. Both benchmarks notched a weekly loss exceeding 1.6 percent.

Gold was little changed on Friday as investors judged that a sell-off sparked by a rise in U.S. interest rates this week had run its course and the dollar weakened, making bullion cheaper for holders of other currencies.        

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In the latest news,  Egypt's gross domestic product grew 4.3 percent in the third quarter of the 2016-17 fiscal year compared with the same period the previous year, said Planning Minister Hala al-Saeed on Thursday, predicting a growth rate of 4 percent by year-end.

The British parliament will hold a rare two-year legislative session to tackle the complexities of Britain's departure from the European Union, the government said on Saturday.

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