GLOBAL MARKETS-World shares modestly higher as investors mull coronavirus, recovery outlook

(Updates with U.S. markets close, fresh commentary)
* U.S. stocks post biggest weekly percentage drops since
March 20
* Risky currencies recover as traders stop taking profits
* Gold on track for biggest weekly gain since April
* Graphic: World stocks market cap loss https://tmsnrt.rs/30zdOIL

By Elizabeth Dilts Marshall
NEW YORK, June 12 (Reuters) - Global equity markets rose in
choppy trading on Friday as concerns triggered by the U.S.
Federal Reserve's less-than-optimistic outlook for an economic
recovery and a jump in U.S. coronavirus cases gave investors
pause.
The three major U.S. stock indexes rose by at least 1%, a
day after the market's worst single-day drop in three months.
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.34%.
Spot gold prices rose as investors bought the safe-haven
metal, with bullion heading toward its biggest gain since the
week of April 10. GOL/ Meanwhile, oil prices fell
for the first time in seven weeks. O/R Spot gold XAU= added 0.3% to $1,731.81 an ounce. U.S. gold
futures GCv1 settled down 0.1% at $1,737.30.
Rich Meckler, partner at New Jersey-based Cherry Lane
Investments, said Friday's upswing indicated some investors are
returning the markets, despite broad uncertainties about the
economic recovery and future of the coronavirus pandemic.
"You could make the case that next year this time everything
is back to normal, and you can make the case that it's multiple
years before we get back on path, and that's what investors have
been fighting," over the past few days, Meckler said.
Worldwide health officials expressed concerns this week that
countries, grappling with the devastating economic impact of
lockdowns meant to stem coronavirus's spread, are lifting
restrictions too swiftly and risking a resurgence in cases.

Earlier this week, the Fed predicted a 6.5% decline in U.S.
output this year and said an economic recovery is some time off.
The Dow Jones Industrial Average .DJI rose 477.37 points,
or 1.9%, to 25,605.54, the S&P 500 .SPX gained 39.21 points,
or 1.31%, to 3,041.31 and the Nasdaq Composite .IXIC added
96.08 points, or 1.01%, to 9,588.81.
Despite that, all three major indexes suffered their biggest
weekly percentage declines since the week ended March 20.
In Europe, the STOXX 600 Index .STOXX snapped a four-day
losing streak to rise 0.28%. Frankfurt's DAX .GDAXI , Paris's
CAC40 .FCHI and London's FTSE .FTSE were all in positive
territory, the latter shrugging off data showing Britain's
economy shrank the most on record in April.
Spot gold XAU= rose 0.2% to $1,730.19 per ounce by 4:48
p.m. EDT (1810 GMT), up about 2.7% so this week. crude CLc1 oil futures settled at $36.26 a barrel,
down 8 cents or 0.22 percent. Brent crude futures settled at
$38.73 a barrel, up 18 cents or 0.47%. O/R
The three major U.S. stock indexes posted their worst day on
Thursday since mid-March, when markets were sent into free-fall
by the abrupt economic lockdowns put in place to contain the
pandemic. In currencies, the pound shed early gains against the dollar
after 10 consecutive days of gains. Sterling GBP= was last
trading at $1.2519, down 0.64%. The dollar index =USD rose
0.286%. The euro EUR= down 0.39% to $1.1253. U.S. Treasury yields rose as stocks clawed back some ground.
The 10-year U.S. Treasury yield US10YT=RR rose to 0.7067%.

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