World Markets

Europe ends mixed, with investors cautious

Europe ends mixed, as investors remain cautious

European markets closed mixed on Friday, paring earlier losses, while investors remained vigilant after a rollercoaster week in global equity markets.

The pan-European STOXX 600 fluctuated during trade and provisionally closed slightly higher by around 0.1 percent.

On the week, the STOXX 600 closed 0.3 percent up.

London's FTSE 100 reversed losses to close provisionally 0.5 percent higher. Its major counterparts were warier, with France's CAC index ending unofficially 0.1 percent up and Germany's DAX down 0.4 percent.

U.S. stocks traded in a narrow range on Friday in the final day of an exceptionally volatile trading week, as investors eyed data and Federal Reserve speakers.

Asian markets however, closed largely in positive territory, with the Shanghai Composite closing around 5 percent higher following reports that the People's Bank of China had once more purchased blue-chip stocks in order to prop up the market.

Oil soars again

Oil made a big comeback in the afternoon, despite earlier losses, with both Brent and WTI crude up more than 5 percent when European stock markets closed. This follows on from Thursday, when oil prices skyrocketed over 10 percent, in the biggest one-day rally in years.

With Brent crude oil back about $50 per barrel, European energy stocks rallied, with Tullow Oil finishing over 9 percent higher and Petrofac and Statoil also sharply up.

The top performer, however, was Seadrill. Shares closed more than 11 percent higher after the Norwegian company said it would delay the delivery of 10 offshore oil rigs and drill ships for up to two years, after reporting a 37 percent drop in second-quarter net profit.

Will next week be as volatile?

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