The generally positive G20 tone came as a US accounting standards board decided to allow banks more flexibility in how they value the toxic assets that forced billions of dollars in write-downs. The changes, to take effect in the second quarter, could reduce writedowns and soften the blow to bank earnings.
The G20 reaction also helped mask disappointment at the decision by the European Central Bank to cut its main financing rate by half the expected 50 basis points, to 1.25 percent. Investors shrugged off their disappointment, some betting more cuts were on the way.
But there has also been plenty of bleak news quantifying the human cost of the global crisis.
On Thursday, data showed the number of US workers claiming unemployment benefit was at its highest level in 26 years.
The number of unemployed seeking assistance also rose sharply in Spain last month and euro zone unemployment jumped to 8.5 percent in February.
The US unemployment data for last month is expected to show that the economy shed 650,000 nonfarm jobs and that the unemployment rate climbed to 8.5 percent, which would be the highest level since 1983.
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