Europe's major stock indices closed mixed on Friday but finished the week lower across the board, with French government bond yields rising to their highest level since 2002 amid budget gridlock and worsening protests.

Spain and Italy managed gains in Friday's session, while Germany, France and the UK ended lower.

European Equities End the Week in the Red

Closing levels and weekly changes for the major indices:

• German DAX: 25,.30, down 0.86% on the day and 1.84% for the week
• France's CAC 40: 7,782.83, down 0.36% on the day and 2.19% for the week
• UK FTSE 100: 10,690.37, down 0.32% on the day and 1.76% for the week
• Spain's IBEX 35: 18,989.81, up 0.40% on the day but down 1.74% for the week
• Italy's FTSE MIB: 48,558.85, up 0.36% on the day but down 2.60% for the week

Italy's Friday bounce was not enough to prevent the largest weekly decline among the five markets.

Market breadth underscored the uneven nature of the session. Germany recorded 24 decliners against 14 advancers, France had 24 versus 16, and the UK 53 versus 38. Spain and Italy saw more stocks rising than falling, supporting their positive closes.

French Bonds Stand Out for the Week

The European bond market told a more divided story. German and UK 10-year yields moved lower for the week, while French and Italian yields rose. Spanish yields were unchanged.

French yields climbed this week as budget gridlock, a large deficit and worsening protests raised doubts about the government's ability to control its debt. Investors demanded a higher return to hold French bonds, with the risk of a Moody's credit-rating downgrade adding to the pressure. The benchmark French 10-year yield now sits at its highest level since 2002.

Because bond prices fall when yields rise, the weekly climb marks a loss on existing French government debt — and a higher cost for the state on any new issuance at these levels.

Weekly changes in benchmark 10-year yields:

• Germany: down 7.4 basis points
• France: up 16.7 basis points
• UK: down 3.8 basis points
• Spain: unchanged
• Italy: up 7.0 basis points

France remains the standout. Its 10-year yield fell 6.2 basis points on Friday to 5.018%, providing some relief, but the daily retreat did little to reverse the weekly increase. For perspective, that closing level sits above Italy's 4.580% and Spain's 4.046%, putting France at the top of the eurozone issuers covered here.

With German yields falling and French yields rising, the French premium over Germany widened by 24.1 basis points this week. That is a sizable divergence, with French bonds underperforming even as German bonds attracted buying. Any rating action from Moody's and movement on the French budget standoff — the two pressures behind this week's repricing — are the clearest focal points for the spread from here.

Elsewhere on Friday, Germany's 10-year yield rose 1.4 basis points to 3.346%, the UK's yield rose 2.7 basis points to 5.361%, Spain's edged up 0.2 basis points to 4.046%, and Italy's slipped 0.2 basis points to 4.580%.

US Stocks Mixed as Treasury Yields Rebound

In the US, technology shares showed some recovery after Thursday's selling, but the gains were not carrying the whole market higher. The Dow fell by nearly 500 points, and the S&P 500 finished modestly lower.

At the snapshot:

• Dow Industrial Average: 52,387.25, down 486.03 points or 0.92%
• S&P 500: 7,653.87, down 9.56 points or 0.12%
• Nasdaq Composite: 26,077.58, up 68.72 points or 0.26%
• Nasdaq 100: 29,117.39, up 158.71 points or 0.55%
• Russell 2000: 2,777.65, down 6.38 points or 0.23%

The Nasdaq indices caught a bounce, but the Dow and small caps lagged. Buyers made an attempt at stabilizing technology shares, while the broader market still had work to do.

US Treasury yields moved higher, with the largest increases at the shorter end of the curve:

• 2-year: 4.6946%, up 6.0 basis points
• 5-year: 4.8120%, up 4.4 basis points
• 10-year: 4.9904%, up 3.7 basis points
• 30-year: 5.3114%, up 2.4 basis points

The US 10-year yield is back within a basis point of 5%. The 10-year serves as a reference rate for everything from mortgages to corporate borrowing, which is why its proximity to that round number matters well beyond the bond market.

Oil Jumps Above $103; Gold and Silver Retreat

Crude oil delivered the standout commodity move. The quoted contract traded at $103.03, up $3.56 or 3.58%. The advance puts oil firmly above the $100 level and keeps energy costs in focus as bond yields rebound. Brent crude, the international benchmark, traded above $117.

Gold, meanwhile, traded near an important round number at $4,003.03, down $21.48 or 0.53%. Silver was also lower, down 0.87% at $54.10. Both metals retreated as US yields moved higher.

Bitcoin firmed to $81,532, up $2,160 or 2.72%, while natural gas rose 1.97% to $6.524.

The week closes with losses across the major European equity markets, a sharp widening in France's yield premium over Germany, and oil above $103. Friday's gains in Spain, Italy and US technology shares offered some relief, but the buying remained selective.