European credit spreads were marginally tighter late on Friday, following a rise in European and US stocks even after data showed a steep rise in US job losses. By 1630 GMT, the Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 768 basis points, according to data from Markit, 1 basis point tighter versus late on.
The investment-grade Markit iTraxx Europe index was at 137.25 basis points, 3.75 basis points tighter.