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| - Global stock markets rose on Friday as optimism over easier lockdown measures and reopening economies outweighed signs that the planet could be headed for its worst downturn since the Great Depression. Traders were happy to place their confidence in mind-boggling stimulus and central bank backstopping measures, and be reassured by easing China-US tensions. "The US and China are seemingly still on good terms over the phase one trade deal so that has removed some anxiety across markets," said Jasper Lawler at London Capital Group. A strong performance by the tech-heavy US index Nasdaq on Thursday wiping out its 2020 losses further bolstered sentiment, he said. But analysts warned that the good vibes could evaporate within hours if markets don't like the content of the US payroll report for April, due later on Friday and described as "symbolic" by Michael Hewson, Chief Market Analyst at CMC. "This will be the first payrolls report that will fully start to crystallise the scale of the economic hit to the US labour market," he said. But, he cautioned, the markets have sometimes been slow to react recently to even the most dismal economic data. "It almost appears that the worse the US data is, the higher stocks seem to go," Hewson said. After crashing in the space of a few weeks, global equities are up about 20 percent since their trough in March, and analysts say the gains could continue. JP Morgan Chase analysts wrote in a note: "While the collapse in economic activity is historic, so too is the global policy response to cushion the impact and support a recovery. "We expect risky assets to continue to recover as economies reopen." Strong sentiment seeped into Asia Friday after Wall Street's three main indexes all rallied more than one percent the previous day. Tokyo soared 2.6 percent. In Europe, London's closure for VE Day took much of the usual volume out of the trading day, but Paris and Frankfurt were open and up by around one percent. News that China and the US had committed to implementing a partial trade deal that was signed off in January and brought a pause to their debilitating trade war also provided much-needed support to markets. "That will be of substantial relief to markets, as the last thing the world economy needed right now, was an escalation in hostilities on that front," said OANDA's Jeffrey Halley. The easing of lockdowns provided a boost to beaten-down oil markets. "People are getting back in cars to commute or merely to get out of the house, which is excellent for gasoline demand as that is providing the first phase in bounce to the oil price recovery," said Stephen Innes of AxiCorp. London - FTSE 100: Closed for a holiday Frankfurt - DAX 30: UP 1.1 percent at 10,872.75 Paris - CAC 40: UP 0.9 percent at 4,539.79 EURO STOXX 50: UP 0.7 percent at 2,899.80 Tokyo - Nikkei 225: UP 2.6 percent at 20,179.09 (close) Hong Kong - Hang Seng: UP 1.0 percent at 24,230.17 (close) Shanghai - Composite: UP 0.8 percent at 2,895.34 (close) New York - Dow: UP 0.9 percent at 23,875.89 (Thursday's close) West Texas Intermediate: UP 2.6 percent at $24.16 per barrel Brent North Sea crude: UP 1.6 percent at $29.92 Euro/dollar: UP at $1.0844 from $1.0829 at 2050 GMT Dollar/yen: UP at 106.35 yen from 106.26 yen Pound/dollar: UP at $1.2378 from $1.2360 Euro/pound: DOWN at 87.59 pence from 87.60 pence burs-jh/lc
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