Global Stocks

U.K. stocks rose for a fourth straight day after a choppy session on Thursday, settling at a record closing high as oil companies popped higher. Thursday's gain came as oil companies advanced after U.S. government data showed a smaller rise in domestic inventories than had been signaled by an industry estimate. Oil prices briefly moved into positive territory, but had slipped back into the red at the time of the European market close.

U.S. stocks closed fractionally lower on Thursday as investors remained reluctant to make big bets in a thinly-traded session ahead of long holiday weekend. All three main indexes are on track to post solid monthly gains and double-digit annual returns with one trading session to go in 2016.

Asian shares were mixed early Friday in the last trading session of 2016, with a weaker dollar hurting the competitiveness of exports in the region, while an overnight drop in oil prices sent key energy stocks lower. The greenback's rally has shown signs of slowing in recent days as doubts rose over the assumption of the U.S. Federal Reserve's rapid interest rate increases. Earlier this week, the National Association of Realtors showed pending home sales dropped in November, a sign of weakening momentum for the U.S. housing market.