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  • Equities rose Friday as investors weighed up hopes of a quick economic recovery against fresh virus worries and geopolitical tensions. After three months of big gains for global stock markets -- fuelled by the reopening of economies as well as trillions of dollars in government and central bank support -- and a volatile week, indices appeared to be levelling out as investors awaited the next major catalyst, such as a vaccine for COVID-19. While countries continued to ease lockdowns, the virus spiked again in several places including Beijing, Tokyo, Germany, Florida and Texas. "Concerns over the spread of COVID-19 in some US states in particular where hospitalisation rates are rising, and also following the recent outbreak in Beijing, continue to cast something of a pall over markets," said Ray Attrill at National Australia Bank. Adding to the unease were simmering tensions between the two Koreas -- as well as between China and India following a deadly border skirmish this week in the Himalayas. President Donald Trump provided fresh uncertainty by tweeting that the US "certainly does maintain a policy option, under various conditions, of a complete decoupling from China", but observers still saw it as unlikely the superpowers would break off all economic activity. Bloomberg News on Friday said that Beijing planned to boost its imports of farm goods including soybeans and corn from the US, easing concerns about the trade pact signed in January, which had been called into question owing to rising tensions. Elsewhere Friday, the British pound struggled to bounce back from Thursday's drop that came after the Bank of England unveiled more cash stimulus to prop up the UK economy battered by the virus. Oil prices rose again on optimism over the demand outlook as lockdowns eased. "What's become clear this week is that any second wave isn't going to necessarily prompt governments to return to draconian lockdowns," said Vandana Hari at Vanda Insights. On the corporate front, the chief executive of scandal-hit Wirecard resigned on Friday after the German payments provider was hit with fresh fraud allegations that have left it struggling to survive. Auditors on Thursday said 1.9 billion euros ($2.1 billion) were missing from Wirecard's accounts, sending its share price plummeting by more than 80 percent this week. London - FTSE 100: UP 1.3 percent at 6,305.18 points Frankfurt - DAX 30: UP 1.1 percent at 12,412.23 Paris - CAC 40: UP 1.3 percent at 5,021.47 EURO STOXX 50: UP 1.3 percent at 3,291.38 Tokyo - Nikkei 225: UP 0.6 percent at 22,478.79 (close) Hong Kong - Hang Seng: UP 0.7 percent at 24,643.89 (close) Shanghai - Composite: UP 1.0 percent at 2,967.63 (close) New York - Dow: DOWN 0.2 percent at 26,080.10 (close) West Texas Intermediate: UP 2.4 percent at $39.78 per barrel Brent North Sea crude: UP 1.9 percent at $42.30 per barrel Euro/dollar: UP at $1.1204 from $1.1203 at 2030 GMT Dollar/yen: DOWN at 106.92 from 106.99 yen Pound/dollar: DOWN at $1.2382 from $1.2422 Euro/pound: UP at 90.48 pence from 90.18 pence dan-bcp/jh
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  • Stock markets climb on recovery hopes
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