While gains were spread across sectors, autos were among the top performers on Friday as embattled Italian carmaker, Fiat Chrysler, rebounded from the previous session. Reports emerged on Thursday that the U.S. Justice Department is poised to file a civil lawsuit against the firm for selling over 100,000 vehicles that emit excess diesel emissions. However, shares were up over 3.5 percent on Friday.
Europe’s food and beverages sector also pushed higher on news of an incoming CEO at Swiss food business firm, Aryzta. The bakery goods maker announced Friday that Kevin Toland is set to join the company from airport operator DAA. As a result, the Zurich-based firm’s shares jumped over 4 percent.
The Spanish lender Banco Popular hit the top of the European markets, up by 9 percent. This followed news that the Spanish government doesn’t intend to inject public funds into the bank, increasing pressure on the lender to merge.
On Wall Street, equities traded higher as traders hoped that concerns around Donald Trump’s presidency may have been exaggerated. The Dow Jones industrial average rose 100 points, the S&P 500 gained 0.57 percent and the Nasdaq also rose 0.57 percent.