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European stocks rose with U.S. equity futures at the end of a bruising week in which escalating trade tensions weighed on investors. Treasuries steadied after Thursday's rally.
Carmakers and energy firms pushed the Stoxx Europe 600 index higher, while futures on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 also climbed in the wake of steep declines a day earlier. Shares in Asia edged higher, with Chinese equities little changed and Indian stocks rebounding. Despite the gains, a gauge of global equities is headed for a third straight weekly drop, its longest losing streak of the year.
The rally in sovereign bonds showed signs of easing after yields on 10-year Treasuries touched the lowest since 2017. The dollar drifted and the euro nudged higher. The pound also edged up as people familiar with the matter said U.K. Prime Minister Theresa May was set to announce a timeline for her resignation.
Ahead of a long weekend for both the U.S. and U.K., concerns are mounting that the trade dispute could cripple global growth, with disappointing American factory data Thursday hinting at the fragility of the expansion. After the close on Wall Street, President Donald Trump said that Huawei Technologies Co., which was put on a U.S. blacklist earlier this month, could be part of any trade pact with China.
"The trade war is going to cause growth to slow, both in the U.S. and China, and therefore globally -- there is no doubt about that," Komal Sri-Kumar, founder and president of Sri-Kumar Global Strategies Inc., told Bloomberg TV in New York. "The trade war is taking on new dimensions."
Elsewhere, Australia's 10-year bond yield reached another all-time low amid calls for as many as three central bank interest-rate cuts this year. The yuan was flat on signs of stabilization from China's central bank this week.
And these are the main moves in markets:
--With assistance from Adam Haigh.
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