Global shares gain, bonds supported as oil drops ahead of US jobs data

Global shares experienced an increase on Friday as bond and currency markets volatility subsided, and oil prices declined ahead of crucial US jobs data. European longer-dated sovereign bond prices rose throughout the day, with German and French 10-year yields showing a widening gap of over 150 basis points, the largest since the 2011 euro zone debt crisis.

Germany's 10-year yield dropped 10 basis points, as investors favored the relative safety of German bonds over their European counterparts. In the US, West Texas Intermediate crude futures fell 3.8% to $89.34 a barrel, while Brent crude futures dipped 2.5% below $100 a barrel. European gasoil futures, used as a benchmark for diesel prices, declined about 5% to $1,382.75 a metric ton.

Investors are closely watching US labor market data due later in the day, with expectations of a 90,000 gain in nonfarm payrolls for September and a steady unemployment rate of 4.1%. A strong print in these figures could potentially encourage a second rate increase from the Federal Reserve this month, currently priced at just 25%.