World shares jump amid improved US indicators
Friday, 3 December 2010
BANGKOK, Dec 2 (AP): World stock markets climbed Thursday after improved economic indicators powered big gains on Wall Street and worries eased about Europe's debt problems.
Signs that the US job market thawed in November jump-started the advance. ADP Employer Services, a payroll company, said small businesses added the largest amount of workers in three years last month, well ahead of what analysts had forecast.
Improved economic growth in the US, the world's No 1 economy, would be a boon for export-reliant countries in Europe and Asia.
In early European trading, Germany's DAX was up 0.2 per cent at 6,879.77 and Britain's FTSE 100 added 0.3 per cent to 5,656.39. France's CAC 40 rose 0.6 per cent to 3,690.22. Wall Street looked set to consolidate the previous day's rise with Dow futures down 3 points at 11,230.
Japan's Nikkei 225 stock average surged 1.8 per cent to close at 10,168.52, at one point hitting its highest intraday level in more than five months.
The dollar's climb over the 84 yen line bolstered Japanese exporters like automakers and electronics companies. Camera giant Canon Inc rose 2.5 per cent, and Sony Corp rose 0.8 per cent.
Hong Kong's Hang Seng index climbed 0.9 per cent to 23,448.78 and the Shanghai Composite index advanced 0.7 per cent to 2,843.61. South Korea's Kospi rose 1.1 per cent to 1,950.26.
Australia's S&P/ASX 200 jumped 2 per cent to 4,676.20 as investors snapped up mining shares.
Missing out on the day's gains was Toyota Motor Corp, the world's biggest automaker, which saw US auto sales drop 3 per cent in November, while the industry overall posted a 17-per cent climb compared with a year earlier.
Toyota's shares fell 0.6 per cent in Tokyo.
In New York Wednesday, the Dow Jones industrial average rose 249.76, or 2.3 per cent, to 11,255.78 in its biggest gain since Sept 1 after the employment numbers.
European stocks had earlier benefited after European Central Bank President Jean-Claude Trichet suggested that the bank could buy bonds issued by countries within the European Union.
That, along with a better-than-expected bond auction by Portugal, pushed the euro higher.
Signs that the US job market thawed in November jump-started the advance. ADP Employer Services, a payroll company, said small businesses added the largest amount of workers in three years last month, well ahead of what analysts had forecast.
Improved economic growth in the US, the world's No 1 economy, would be a boon for export-reliant countries in Europe and Asia.
In early European trading, Germany's DAX was up 0.2 per cent at 6,879.77 and Britain's FTSE 100 added 0.3 per cent to 5,656.39. France's CAC 40 rose 0.6 per cent to 3,690.22. Wall Street looked set to consolidate the previous day's rise with Dow futures down 3 points at 11,230.
Japan's Nikkei 225 stock average surged 1.8 per cent to close at 10,168.52, at one point hitting its highest intraday level in more than five months.
The dollar's climb over the 84 yen line bolstered Japanese exporters like automakers and electronics companies. Camera giant Canon Inc rose 2.5 per cent, and Sony Corp rose 0.8 per cent.
Hong Kong's Hang Seng index climbed 0.9 per cent to 23,448.78 and the Shanghai Composite index advanced 0.7 per cent to 2,843.61. South Korea's Kospi rose 1.1 per cent to 1,950.26.
Australia's S&P/ASX 200 jumped 2 per cent to 4,676.20 as investors snapped up mining shares.
Missing out on the day's gains was Toyota Motor Corp, the world's biggest automaker, which saw US auto sales drop 3 per cent in November, while the industry overall posted a 17-per cent climb compared with a year earlier.
Toyota's shares fell 0.6 per cent in Tokyo.
In New York Wednesday, the Dow Jones industrial average rose 249.76, or 2.3 per cent, to 11,255.78 in its biggest gain since Sept 1 after the employment numbers.
European stocks had earlier benefited after European Central Bank President Jean-Claude Trichet suggested that the bank could buy bonds issued by countries within the European Union.
That, along with a better-than-expected bond auction by Portugal, pushed the euro higher.