Global markets breeze higher on growth outlook

Global stock markets rose Friday as optimism on the US economic outlook outweighed lingering trade war worries, dealers said.

European equities were all solidly higher at the close, with London outshining its peers thanks to a slipping pound as Brexit talks appeared to be stalling.

On Wall Street the Dow index was also firmer approaching midday in New York, building on the previous day's all-time pinnacles, with investors concluding that trade war concerns were overblown as the world's biggest economy powers ahead.

"Investors continue to brush off the ongoing trade dispute between the US and China," said Craig Erlam, an analyst at Oanda.

A "lack of escalation" in trade spats combined with optimism on the American economy turned out to be a winning combination, added analysts at the Charles Schwab brokerage.

"Trade concerns remain contained, while the domestic economic front continues to paint a solid picture," they said.

An unsuccessful Brexit summit in Salzburg, ending in "humiliation" for the British prime minister according to some, weighed on the pound from the start of business, but that in turn helped London's benchmark FTSE 100 index to post a whopping 1.7% gain at the finish.

The British currency then weakened further after Prime Minister Theresa May said that Brexit talks were "at an impasse" and that the European Union's response to British plans was "not acceptable".