Market News

European stock markets climb on Friday, partly recovering from a sharp selloff the prior day, after better-than-expected German business confidence data signal a brighter future for Europe's largest economy.

LONDON (MarketWatch) -- The big swings in Japan's stock and bond markets is not surprising, given the Japanese government's aggressive monetary stimulus program, St. Louis Federal Reserve Chairman James Bullard said Friday. "It is a big moment for Japan," Bullard told CNBC. "Any time you see any market in the world go up by this amount in six months, you are bound to see volatility in the trading." On Friday, the Nikkei swung more than 3% both sides of the previous day's close, after plunging 7.3% on Thursday. The drop came as the yen rose steeply and after the Bank of Japan stepped in to quell volatility in the bond market.

U.K.'s FTSE 100 index slipped on Friday, with mining firms adding pressure as metals prices turn south and with banks building to the prior day's losses.

Japanese shares end modestly up after a roller-coaster ride that subjects the Nikkei Average to a swing of more than 3% on both sides of the previous day's close.

Japanese government bond yields come off early highs to end little changed as two bond-buying operations by the Bank of Japan help to calm the market.

LONDON (MarketWatch) -- Business confidence in Germany rose more than expected in May, with the Ifo business-climate index climbing to 105.7 points from 104.4 in April, data showed Friday morning according to media reports. Expectations were for a 104.5 reading. German stocks inched higher after the data, with the DAX 30 index up 0.2% to 8,365.72. The Stoxx Europe 600 index climbed 0.1% to 304.36.

LONDON (MarketWatch) -- European stock markets opened higher on Friday, partly recovering from a sharp selloff the prior day, with investors awaiting a reading on German business confidence to gauge if the region's powerhouse is gaining momentum. The Stoxx Europe 600 index put on 0.3% to 304.99, after sinking 2.1% on Thursday. The U.K.'s FTSE 100 index rose 0.2% to 6,707.97, while France's CAC 40 index added 0.4% to 3,982.44. Germany's DAX 30 index gained 0.2% to 8,369.80, after snapping a 12-day winning streak on Thursday.

MADRID (MarketWatch) -- Gold prices eased on Friday as Asian equities swung higher, but saw little benefit from a weaker dollar as the yen gained. Gold for August delivery fell $2.50 to $1,390.30 an ounce. A day prior, gold settled at its highest level in a week, supported by a drop for the dollar and weaker global equities, largely a plunge in Japanese equities. The Nikkei Stock Average saw another volatile session on Friday, swinging to a gain of 3% to a loss of 3%, but closing around 0.9% up. The dollar index fell to 83.687, from 83.723. Among other metals, copper saw its July contract rise 2, or 0.5%, to $3.32 a pound. July silver fell 1 cent to $22.49 an ounce. June palladium futures fell 10 cents to $738.55 an ounce, and platinum fell 20 cents to $1,457 an ounce.

The Japanese yen turns higher Friday, resuming the advance against the U.S. dollar that was spurred in part by a selloff in Japanese bonds.

A May 24 story misstated the movement of the yen against the dollar. It has now been corrected.