Yahoo Finance Markets Recover Poise After Turbulent Week
Stock markets across the world have been recovering some value following a turbulent week, dominated by a rush for safe havens amid uncertainty over the EU referendum result.
After sharp falls in Asia on Thursday, US stocks closed in positive territory for the first time in six sessions though nerves persist about tight opinion polls relating to the UK's Brexit vote on 23 June.
Friday's session saw the FTSE 100 rise back above the 6,000 level after hitting four month lows earlier this week.
A potential exit from the EU has stoked concerns about a negative hit to the British economy and the EU, and the ripple effects throughout a weak global economy.
Art Hogan, chief market strategist at Wunderlich Securities, said the rise in US stock values was inevitable after five straight falls but added they did not reflect improved investor confidence.
"We're far from having priced in a worst-case scenario yet", he said.
:: Bank: 'Probable' Pound Risk On UK Brexit Vote
However, head of trading at ETX Capital, Joe Rundle, said rising bank shares indicated that Brexit fears were "receding".
He added: "Lloyds, Standard Chartered (HKSE: 2888.HK - news) and Barclays (LSE: BARC.L - news) are all flying high today. Banks share prices are predicted to drop sharply in the event of a Brexit and these stocks have been pressured lower over the last fortnight as the polls showed increasing support to leave the EU".
Asian stock markets helped lead Europe higher on Friday while the pound was up 0.6% against the dollar at 1.42.9 - rising from two-month lows - while oil prices, which saw Brent crude fall below $50 a barrel this week, were trading above $47 on Friday.
The week of volatility saw money scramble towards safe havens such as bonds, gold and the Japanese yen .
The country's government confirmed it had held crisis talks on Friday as the increase in its value is damaging to export-dependent Japan.
Finance minister Taro Aso hinted at possible yen-selling market intervention in a bid to get its value down unless some calm was restored. The yen was under less pressure on Friday.
