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The release of mixed data on Friday, and through the week, saw Friday’s session bring February to close on a flat note. Reports out this week included disappointing reads on joblessness, durable goods orders and housing, while investors were buoyed at week’s end with a better-than-expected rise in GDP to a 5.9% annual rate.

In other economic reports, the Chicago purchasing managers' index on regional manufacturing was improved, while consumer confidence reads from the University of Michigan slipped modestly.

It proved to be a volatile month for the S&P 500, however it finished 2.9% higher, and the best performance since November and the best February since 1998.

The Dow Jones rose 4.23 points, or 0.04%, to 10,325.26, the S&P 500 gained 1.55 points, or 0.14%, to 1,104.49 and the NASDAQ picked up 4.04 points, or 0.18%, to 2,238.26.

Insurance giant AIG, which was the recipient of so much government bailout money, and then anger for paying it as bonuses, posted a massive $9 billion loss for the last quarter alone. Its shares tumbled 10%.

Citigroup lost 0.3%. The bank said its board of directors would shrink by two to 15 in total.

It was a good session for other financial stocks, with only Wells Fargo, down 0.4%, losing ground amongst the majors.

JPMorgan put on 3.3%.

Among the tech stocks, Apple rose 1.3%, while Microsoft was 0.2% up. Most other tech stocks were less than 1% above the gain line.

It was a different story for the retailers with disappointing consumer confidence reports seeing the sector fall.

Macy’s gave up 0.7%, while Saks was 3.1% weaker.

Proving the importance of a strong management team, shoemaker Croc’s shares tumbled 9.5%, despite beating the street’s expectations with strong earnings figures and a bullish outlook. Instead, investors reacted to the announcement its CEO would resign.

NYMEX light crude oil for April finished up US$1.49 to US$79.66 a barrel.

Exxon Mobil lost 0.2%, however rival Chevron countered with a 0.3% gain.

COMEX gold for April delivery added US$10.40 to US$1,118.90 per ounce.

European Markets

European markets rebounded on the positive GDP figures out of the US. The banks led the rally, while the miners added to gains as commodity prices recovered losses from earlier in the week.

The UK benchmark FTSE 100 rose 76.30, or 1.45% to 5,354.52, the German DAX added 66.13, or 1.20% to 5,598.46 and the French CAC40 climbed 68.03, or 1.87% to 3,708.80.

Among the UK banks, Barclays and HSBC were 1.8% and 1.4% stronger.

It wasn’t a good day for Lloyds whose shares tumbled 4.4%. The company reported a worse-than-expected loss on widening bad loans following its takeover last year of HBOS.

French banks Credit Agricole and BNP Paribas were 4% and 3.2% stronger, while Deutsche Bank added 2.3%.

Volkswagen shares shed 0.8% after the carmaker said its profit had fallen 80%. German peer Daimler was 1% stronger.

In France, Renault and Peugeot rallied 2.7% and 2.2%.

Aussie mining peers, BHP Billiton and Rio Tinto put on 2.4% and 3.5% respectively.

Anglo American and Xstrata gained 3.6% and 3% respectively.

Among the more obscure stocks to receive attention, Seadrill rose 9.2% after the Norwegian oil-drilling contractor reported a bigger-than-expected rise in quarterly operating profit.

Elsewhere, building materials group Saint Gobain spiked 7.9%, also on the back of stronger than expected results.

Bayer fell 1.4% in Germany after forecasting a 2010 profit below analyst’s earlier expectations.

BASF, the world’s largest chemical maker, gained 0.3%.

Japanese Markets

The Nikkei edged higher Friday on the back of positive factory output data and consumer sales. Carmakers gained ground, finishing a poor month on a high note.

Factory production rose 2.5% - posting its 11th straight month of gains.

The Nikkei 225 gained 24.07, or 0.24% to 10,126.03.

Toyota climbed 1.8% after Citigroup upgraded the stock, while Mazda surged 4%.

Isuzu also gained, up 2.3% although Nissan bucked the trend, shedding 0.4%.

Aeon, the Japanese equivalent of Woolworths, put on 2.9% after yet another broker upgrade.

The gains from retailers and automakers were countered by declines from the banks.

Mitsubishi UFJ Financial Group lost 0.4%. It was the most heavily traded stock of the day.

Consumer electronics heavyweight Pioneer gave up 2.5%, while Sony put on 0.2%.

Hong Kong Markets

The Hang Seng gained just over 1% Friday on the back of strong earnings figures and a rise from their mainland counterparts. The index posted its biggest one-month gain since last October.

The Hang Seng rose 209.13, or 1.03% to 20,608.70.

In a wrap of the banks, Bank of China gained 0.8%, while ICBC rallied 1.1%.

HSBC was 0.6% stronger.

Mobile phone carrier China Unicom was the major mover, jumping 7.6% on the back of a broker upgrade from Deutsche Bank.

China Mobile, the largest carrier in the country, was 0.2% stronger.

It wasn’t just mobile carriers doing well, with fixed line telco China Telecom 3.3% above the gain line.

Internet service provider Tencent put on 1.9% following news a rival beat expectations.

Cathay Pacific, Hong Kong’s official airline, rallied 2.1% after saying it would invest in Air China’s cargo unit.

Oil producers Cnooc and PetroChina added 1.2% and 1.6% respectively.

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