Global shares advance on hopes for Greece progress

World shares advanced as policymakers in Europe reassured markets that a deal on releasing emergency aid to Greece was close, though the failure of lenders to come to an agreement on their own kept investors cautious.

US stocks rose today after a ceasefire was declared to end the flare-up in violence between Israel and the Palestinians, though the lack of a deal to release emergency aid for Greece limited the market's advance.

The Dow Jones industrial average gained 49.60 points, or 0.39 percent, to 12,838.11. The Standard & Poor's 500 Index added 2.64 points, or 0.19 percent, to 1,390.45. The Nasdaq Composite Index rose 10.10 points, or 0.35 percent, to 2,926.78.

European stocks chalked up a third straight session of gains today as buyers snapped up recent laggards and positioned for a positive outcome to negotiations over aid to Greece.

It was the top riser on the pan-European FTSEurofirst 300 index, which closed 0.3 percent higher at 1,097.43 points, albeit in thin volume of 82 percent the average as Thursday's Thanksgiving market holiday in the United States approached.