Global shares cheer third days of gains

US stocks rose for a third day on Tuesday on efforts by euro-zone officials to solidify the region's rescue fund and alleviate a sovereign debt crisis, boosting optimism.

The Dow Jones industrial average finished up 146.83 points, or 1.33 percent, at 11,190.69. The Standard & Poor's 500 Index was up 12.44 points, or 1.07 percent, at 1,175.39. The Nasdaq Composite Index was up 30.14 points, or 1.20 percent, at 2,546.83.

European shares jumped to make their largest percentage gain since May 2010 and on track to make their biggest weekly gain since July 2010 on hopes policymakers were putting together measures to help ease the region's debt crisis.

The pan-European FTSEurofirst 300 index of top shares closed up 4.6 percent at 938.38 points -- its biggest one day percentage rise since May 2010 and third consecutive day of gains.

The Nikkei average climbed almost 3%, bouncing off a 2-1/2 year closing low marked the previous day on a rush of dividend-related buying and in tandem with rises for other risk assets on hopes that a European debt plan is in the works.

The Nikkei added 2.8 percent to 8,690.95, its first climb in three days, led by gains for major banks on hopes that a plan would take shape and prevent Europe's debt crisis from spreading to the global financial system.