Global shares rally on data
US stocks rallied about 1 percent on Thursday as data signaled positive trends for the economy, but gold prices fell for a fourth consecutive session as investors constrained by tight liquidity resulting from the euro-zone debt crisis were forced to sell.
The Dow Jones industrial average closed higher 135.63 points, or 1.12 percent, at 12,287.04. The Standard & Poor's 500 Index rose 13.38 points, or 1.07 percent, to 1,263.02. The Nasdaq Composite Index gained 23.76 points, or 0.92 percent, to 2,613.74.
European shares advanced as upbeat data from the United States helped fuel a low-volume rally in the afternoon, although volatility also rose as investors hedged against lingering uncertainty in the euro zone.
The FTSEurofirst 300 index of top European shares closed up 1 percent at 992.78 points, although trading was once again light at one-third of its 90-day average.
Japan's benchmark Nikkei slipped today ahead of an Italian debt sale that could prove challenging in thin volumes, while the euro's tumble against the yen to a 10-year low pressured exporters.The chipmaker underperformed the Nikkei average, which fell 0.3% to 8,398.89, taking cues from declines in US and European shares as well as a broad fall in the euro on renewed concerns over the euro zone sovereign debt crisis. The broader Topix reversed earlier losses and gained 0.1% to 722.12.
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