Shares, oil and bond yields rallied during the course of Friday’s session after an unrestrained week and was also fueled by the suspended Brexit campaign after a pro-“Remain” politician was shot to death.

European bourses bounced by about 1.5 percent after a third consecutive week of slumps and bond markets has seen benchmark 10-year German bond yields retract up to zero mark as risk appetite start to return gradually.

The referendum campaign was put on hold after the killing of a British lawmaker Jo Cox, which surpassed the U.S. and Japanese central bank meetings this week.

Pound remained volatile and gained about 0.5 percent to $1.4277, with analysts saying that the killing of Cox is expected to fill sentiment in favor of remaining in the EU.


Head at Saxo Bank John  Hardy said, "There was this incredible melt down in risk sentiment (yesterday) where everything seemed to be aligning and then this terrible incident in England seemed to be the root of everything reversing."

"I think everyone is still in a state of shock as to what this means. Does it tilt the odds on a vote next week? It's hard to know but it certainly disrupted what the market was doing."

Meanwhile, oil has seen advancing for the first time in seven days after it had sent major swings in the global market this year. Thus, that slump has lowered prices by 10 percent.

Euro Stocks Soared

European banking stocks climbed over 3 percent, marking a four-year low with all-time slumps for banks, along with the Deutsche Bank and Credit Suisse.   


Gold posted a 0.4 percent increase to end at $1,283 an ounce after major swings earlier. It rose to a near-two-year high of over $1,315, only to decline by about 2.8 percent at the close. Moreover, it was tracked settling on a third week of gains.  

A strategist at ANZ commodity Daniel Hynes said, "Leading into the Brexit vote, we expect gold to remain around current levels between the $1,270-$1,300 range. But after then all bets are off as everything depends on the results of the referendum."

Wall Street was anticipated to witness a subdued start having a 5-day straight losses on Thursday’s session, along with the housing data and figures of Canadian inflation is scheduled for a release.

Asian stock markets have seen rallying, despite with a little consolation after a weaker week that has witnessed both weak Chinese data, and the Bank of Japan (BOJ) hold more stimulus, but remained strong in currency intervention. 

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