Japanese markets ended the week with both the Nikkei and Topix indices up on Friday. Rising crude oil prices were able to counterbalance the unexpected drop in an important quarterly survey that reports business confidence.

London financial markets, on the other hand, ended the week on an up note amid the news that 24 percent of reporting companies had higher than average earnings and another 71 percent had met their predicted earnings in the most recent reports.

Also reported to be a factor were several vigorous takeover attempts. The New York markets ended the week and began the second quarter on the downturn after better results earlier in the week.

Reported reasons for the late-week decline included new concerns over inflation, the uncertain state of oil prices, and a report that fewer than expected jobs had been created outside the farm sector.