European equities ended Friday with broad gains across major benchmarks, closing both the session and the week mostly higher as traders moved into the weekend. The advance followed a stronger-than-expected round of S&P Global flash PMI data, which indicated improved business activity across much of Europe.

PMI readings above 50 signal expansion, while those below indicate contraction. Germany led the regional data, with its manufacturing PMI rising to 52.2 compared with expectations of 50.4. The services reading also moved higher to 49.6. For the eurozone as a whole, manufacturing increased to 52.0, above the 51.5 forecast, while services climbed to 51.6, beating expectations of 49.8. The figures pointed to a broader improvement in economic momentum.

The UK also delivered upside surprises, with manufacturing at 52.8 and services at 51.8, both above forecasts. France was the main weaker point in the data. Its manufacturing reading stayed at the neutral 50.0 level, while services remained in contraction at 49.8, although that was still higher than the 47.5 forecast.

Lower oil prices and hopes that diplomatic efforts could help ease tensions in the Middle East also supported risk appetite, keeping buyers in control through the session. Europe's sensitivity to energy costs, given its reliance on imported oil and gas, has made crude price movements a recurring driver of equity sentiment.

Friday's closing moves were:

• Germany's DAX: +1.36%
• France's CAC 40: +0.88%
• UK's FTSE 100: +0.91%
• Spain's IBEX 35: +1.65%
• Italy's FTSE MIB: +0.95%

For the trading week, most major European indices advanced, with Spain leading the gains. Italy was the exception.

• Spain's IBEX 35: +1.92%
• UK's FTSE 100: +1.28%
• Germany's DAX: +1.08%
• France's CAC 40: +0.40%
• Italy's FTSE MIB: -0.15%

The combination of encouraging PMI data, easing energy prices, and improved geopolitical sentiment helped European stocks finish the week on a constructive note. Investors will next focus on upcoming economic releases, central bank expectations, and developments in the Middle East for potential market-moving catalysts.

As London and European traders exited for the day, US equities were also rebounding and had moved back into positive territory after a weaker opening for the broader indices.

The Dow industrial average was up 349 points, or 0.68%, at 52,068.22. At its session low, the index had been down 29.99 points.

The S&P index was higher by 46.86 points, or 0.63%, at 7,454.59. At its session low, the index had been down 10.72 points.

The NASDAQ index was up 50 points, or 0.20%, at 25,189. At its session low, the index had been down 219.60 points.

US yields were lower on the day after rising for most of the week, which also helped support the risk-on bias:

• 2-year yield: 4.311%, down 4.8 basis points
• 5-year yield: 4.405%, down 5.5 basis points
• 10-year yield: 4.654%, down 4.8 basis points
• 30-year yield: 5.139%, down 3.1 basis points

In other markets, crude oil was trading down $3.70 at $88.50. The price moved back below its 100-day moving average at $89.89.

Gold was trading higher by $25.58 in reaction to lower yields, up 0.64% at $4,074.48. Silver also advanced, rising $1.18, or 2.04%, to $58.78.

Bitcoin was trading down $1,054 at $64,055.

Recent reports from Axios said the US and the UK, with new PM Burnham, are planning to convene a high-level meeting in London next week focused on a potential international coalition to protect maritime shipping in the Strait of Hormuz. The Strait of Hormuz is one of the world's most critical oil transit chokepoints, through which a significant share of global seaborne crude passes, making shipping security there directly relevant to energy markets.