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Global stock index eyes biggest weekly loss since Dec

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Gold touches all-time high near $3,000 an ounce

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U.S. stocks rise after hitting correction

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German bond yields rise on prospects of fiscal deal

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Investors remain nervous over escalating global trade

tensions

(Updates prices after U.S. stock market open)

By Sinéad Carew and Naomi Rovnick

NEW YORK/ LONDON, March 14 (Reuters) - Stock indexes

around the world were angling to end a bumpy week on a positive

note although safe-haven gold hit a record high with investors

still showing some signs of anxiety about the economic impact of

tariffs.

In Europe, German government bond yields and the euro rose

on Friday with German Chancellor-in-waiting Friedrich Merz

saying he had secured crucial backing of the Greens for a

massive increase in state borrowing.

Germany's news also helped boost U.S. Treasury yields,

according to Garrett Melson, portfolio strategist at Natixis

Investment Managers. He attributed equity gains on Friday to the

fact that the S&P 500 confirmed it was in a correction on

Thursday.

"It's a reflection of the pain we've already endured in

markets. It's been a sharp decline from the highs in

mid-February," said Melson.

"You're seeing some signs of it at least getting an

intermediate low and a little bit of a relief rally," he said.

"There's not really anything meaningful in the way of news to

really drive a rally other than just the technicals."

On Wall Street, at 11:46 a.m. the Dow Jones Industrial

Average rose 571.88 points, or 1.40%, to 41,385.45 while

the Nasdaq Composite rose 407.61 points, or 2.36%, to

17,710.63. The S&P 500 rose 102.39 points, or 1.85%, to

5,623.87.

The benchmark index finished Thursday more than 10% below

its February record close after U.S. President Donald Trump

threatened to impose a 200% tariff on European wine and spirit

imports, the latest trade war escalation after the European

Union retaliated against U.S. tariffs on steel and aluminium.

This was just a week after the Nasdaq confirmed a

correction, also with tariff and growth uncertainties in play.

MSCI's broadest gauge of global stocks rose

13.19 points, or 1.61%, to 834.78 on Friday but was still eyeing

its biggest weekly fall since December.

Also on Friday, Spot gold breached $3,000 an ounce

for the first time in early London trading before losing ground.

The precious metal is still up more than 13% year-to-date, as

trade wars and growth worries boosted its safe-haven appeal.

Spot gold fell 0.19% to $2,981.99 an ounce. U.S. gold

futures rose 0.07% to $2,986.50 an ounce.

The yield on the benchmark German 10-year Bunds

rose 2.6 basis points to 2.88%, from 2.854% late on Thursday on

hopes the German fiscal agreement would revive growth.

In U.S. Treasuries, yields rose as the stock market recovery

reduced safe-haven demand for U.S. government debt.

The yield on benchmark U.S. 10-year notes rose 3

basis points to 4.306%, from 4.276% late on Thursday while the

30-year bond yield rose 2.1 basis points to 4.617%.

The 2-year note yield, which typically moves in

step with interest rate expectations for the Federal Reserve,

rose 5.6 basis points to 4.009%, from 3.953% late on Thursday.

In currencies, the euro gained broadly due to the reports

about Germany. Against the dollar, the euro was up 0.18%

at $1.0871 while against the pound it gained 0.47%

to 84.17 pence and rose 0.56% to 0.96265 against the Swiss franc

.

The dollar gained 0.42% against the Japanese yen to

148.43 and against the Swiss franc, the greenback

strengthened 0.37% to 0.885, on hopes the U.S. government would

avoid a shutdown over the weekend.

Oil prices regained some ground on Friday after falling

sharply in the previous session, as investors weighed

diminishing prospects of a quick end to the Ukraine war that

could bring back more Russian energy supplies to Western

markets.

U.S. crude rose 0.59% to $66.94 a barrel and Brent

rose to $70.25 per barrel, up 0.53% on the day.

Earlier in Asia, MSCI's broadest index of Asia-Pacific

shares outside Japan closed up almost 1% but

lost almost 1.5% for the week.