Global shares rally on EU deal

World stocks rose today after EU leaders agreed on measures that partially address the region's debt crisis.

The Dow Jones industrial average was up 199.01 points, or 1.66 percent, at 12,196.71. The Standard & Poor's 500 Index was up 22.10 points, or 1.79 percent, at 1,256.45. The Nasdaq Composite Index was up 51.64 points, or 1.99 percent, at 2,648.02.

The pan-European FTSEurofirst 300 index of top shares closed up 1.3% at 985.81 points after falling 1.5% in the previous session after ECB President Mario Draghi dampened hopes the central bank would increase bond purchases.