Global stocks rise on German backing for ECB action

Global shares advanced on Friday as apparent support from German Chancellor Angela Merkel for European Central Bank intervention to calm the euro zone's debt troubles lifted investor sentiment for a second day.

A gauge of US consumer sentiment rose to its highest level since May.

The Dow Jones industrial average closed up 25.09 points, or 0.19 percent, at 13,275.20. The Standard & Poor's 500 Index rose 2.65 points, or 0.19 percent, at 1,418.16. The Nasdaq Composite Index climbed 14.20 points, or 0.46 percent, at 3,076.59.

Europe's top shares closed at 13-month highs, extending their longest weekly winning streak in seven years on hopes euro zone policy makers were inching closer to concerted action to tackle the region's debt crisis.

A late boost from upbeat economic data from the United States pushed the FTSEurofirst 300 index to 1,110.16 points, its highest since July 2011 and up half a percent on the day.

Japan's Nikkei share average struck a three-month closing high today as risk appetite increased after comments from German Chancellor Angela Merkel suggested she supports the European Central Bank's efforts to tackle the euro zone debt crisis.

The Nikkei index advanced 0.8 percent to 9,162.50, its highest close since May 8, stopping just short of its 26-week moving average of 9,167.88.