European stocks closed higher after volatile trade on Friday, boosted by a rally in the auto sector. The pan-European FTSEurofirst 300 closed provisionally at a new 5-year closing peak.
China's benchmark index out-performed the broader Asian market for a second straight session on Friday as investors cheered moves by the government to ease strict regulation while the rest of Asia's equity markets traded cautiously as concerns grew over a U.S. Federal Reserve exit from quantitative easing.