Global markets pushed down by commodities

Defensive shares led a rebound in US stocks as investors weighed mixed economic signals and recent volatility in commodities in search of direction.

The Dow Jones industrial average was up 65.89 points, or 0.52 percent, at 12,695.92. The Standard & Poor's 500 Index was up 6.57 points, or 0.49 percent, at 1,348.65. The Nasdaq Composite Index was up 17.98 points, or 0.63 percent, at 2,863.04.

European share prices mostly ended lower and analysts said the market could be prone to further declines as a sell-off in commodities on demand concerns prompted investors to shun mining and energy shares.

The FTSEurofirst 300 index of top European shares closed 0.7 percent lower at 1,145.07 points after falling to a low of 1,137.26. The index, which advanced in the previous two sessions, is 2.1 percent higher this year.

Tokyo stocks fell, led by declines in energy and commodity shares after sharp overnight falls in commodities prices, offsetting a strong performance by bellwether Toyota Motor Corp.

Declines were led by trading houses such as Mitsubishi Corp, Japan's biggest commodity trader, and resource-related shares such as Inpex Corp, Japan's biggest oil and gas developer, with Mitsubishi shedding 2.0 percent and Inpex down 3.6 percent. Toyota Motor Corp, the most actively traded share by turnover on the Tokyo bourse's main board, jumped 3.1 percent to 3,370 yen after saying output would begin recovering as much as two months earlier than it had previously expected as parts makers come back on line, offsetting poor quarterly earnings.

Toyota said it expects to give an earnings forecast by mid-June. The Nikkei fell 1.5 percent to 9,716.65 while the broader Topix index shed 1 percent to 849.34.