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

(Adds oil, gold settlement prices)
* U.S. stocks bounce back, but on track for worst week in 3
months
* 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 gave
back earlier gains 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.
Trading was choppy, with the three major U.S. stock indexes
moving above and below break-even, a day after the market's
worst single-day drop in three months. MSCI's gauge of stocks
across the globe .MIWD00000PUS shed 0.35%.
Spot gold prices gained 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.
Joe Saluzzi of New Jersey-based trading firm Themis Trading
LLC, said investors face broad uncertainties over what an
economic recovery will look like and when we will get a vaccine
for coronavirus.
"I was surprised that we were up so much this morning," said
Saluzzi, co-founder and co-head of Themis. "We were running on
euphoria."
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.
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.

The Dow Jones Industrial Average .DJI rose 180.62 points,
or 0.72%, to 25,308.79, the S&P 500 .SPX gained 10.03 points,
or 0.33%, to 3,012.13 and the Nasdaq Composite .IXIC added
6.49 points, or 0.07%, to 9,499.22.
Despite the rebound, the Dow and S&P 500 were on track to
post their worst week in 12 weeks.
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 $1,730.57 per ounce by 2:10
p.m. ET (1810 GMT) and has jumped about 2.7% so far this week.
U.S. 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 $1.2484, down 0.92%. The dollar index =USD rose
0.537%. The euro EUR= was down 0.61% to $1.1228. U.S. Treasury yields rose as stocks clawed back some ground.
The 10-year U.S. Treasury yield US10YT=RR rose to 0.7067%.
US/


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World stocks market cap loss https://tmsnrt.rs/30zdOIL
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