Global shares extend gains on GDP, stimulus hopes

Global shares were higher today following a report on economic growth which met expectations and on hopes for further stimulus from the Federal Reserve and the European Central Bank.

The Dow Jones industrial average climbed 187.73 points, or 1.46 percent, to 13,075.66 at the close. The Standard & Poor's 500 Index advanced 25.95 points, or 1.91 percent, to finish at 1,385.97. The Nasdaq Composite Index gained 64.84 points, or 2.24 percent, to end at 2,958.0

European shares extended their earlier gains, and peripheral bond yields fell today on growing expectations of ECB action.

The FTSEurofirst 300 index rose 0.6 percent to 1,049.25 points, while the Euro STOXX 50 index rose by around 1 percent.

Earlier, Japan's shippers, steelmakers and automakers made strong showings as the Nikkei share average rose today in a rally built on short-covering triggered by comments from the European Central Bank's chief.

The Nikkei rose 1.5 percent to 8,566.64, stepping back above its 5-day moving average but still well short of its 14-day moving average at 8,669.21.

The broader Topix index rose 1.6 percent to 726.44.