Global shares trim losses after US data

US stocks advanced today but failed to make up for what turned out to be the worst week for markets since June, as investors turned their attention from the presidential election to the coming negotiations over the "fiscal cliff."

The Dow Jones industrial average edged up 4.07 points, or 0.03 percent, to 12,815.39 at the close. The Standard & Poor's 500 Index rose 2.34 points, or 0.17 percent, to 1,379.85. The Nasdaq Composite Index advanced 9.29 points, or 0.32 percent, to close at 2,904.87.

European shares recovered in late trade and geared up for fresh gains after a batch of strong US data injected some optimism about growth in the world's largest economy and fuelled a technical rebound.

The euro zone blue-chip Euro STOXX 50 index provisionally closed flat at 2,479.82 points, paring losses after breaking above a late October low in the 2,467 area.

Earlier, Japan's Nikkei fell a four-week closing low today, led by exporter shares. The Nikkei ended 0.9 percent lower at 8,757.60, falling for the fifth straight session, and was down 3.2 percent this week, its worst weekly performance in four weeks. But the benchmark is still up 3.6 percent this year.