Stocks and oil gain despite rising coronavirus cases

European shares firmed and oil prices rose on Friday as markets turned positive despite a record rise in coronavirus cases in the United States.

European shares opened higher, with the FTSE 100 up 1% and the Stoxx 600 up 0.8%.

The MSCI world equity index was up 0.3%. 

The 10-year Treasuries yield steadied at 0.6725%, while Gold rose to $1,763.65 an ounce.

Analysts said that fears of a second coronavirus wave and renewed restrictions have little impact on the market, as investors expect for additional fiscal stimulus once lockdowns are replaced. 

In the oil market, Brent crude futures gained 0.9%, or 36 cents, at $41.41 per barrel, while U.S. West Texas Intermediate crude futures rose 0.7%, or 26 cents, at $38.98 per barrel.