Global shares up on policy hopes

US stocks rose for a third straight day on Tuesday, pushing the S&P above 1,400 for the first time since early May, on growing optimism the European Central Bank would act soon to contain the euro zone's debt crisis.

The Dow Jones industrial average rose 51.09 points, or 0.39 percent, at 13,168.60. The Standard & Poor's 500 Index was up 7.12 points, or 0.51 percent, at 1,401.35. The Nasdaq Composite Index was up 25.95 points, or 0.87 percent, at 3,015.86.

European shares rose to their highest level in more than four months, as firmer oil stocks and a surge in telecoms group Nokia offset a slump in UK bank Standard Chartered after becoming embroiled in a scandal.

The FTSEurofirst 300 index closed up 0.8 percent at 1,094.19 points, its highest closing level since ending at 1,105.61 points on March 19.

The Euro STOXX 50 index rose 1.7 percent to 2,440.24 points, its best finishing level since closing at 2,458.98 points on April 3.