Japan's leading share average rose to a three-week closing high on Wednesday after better-than-expected economic data from the United States and China, although strategists said the rally could stall if the euro holds below 100 yen.
After closing the book on a wild and nerve-wracking year, investors greeted the first trading day of the year with a wide rally Tuesday -- bidding up equities, commodities and other risky assets across the board.
European stocks rose to their highest close in five months on Tuesday after strong manufacturing data from the world's two biggest economies, the United States and China, boosted investor confidence and helped shift attention away from the Eurozone.
European stocks were higher early Tuesday afternoon, hitting a two-month high on sharp gains in cyclical mining shares, while simmering concerns over the Eurozone crisis sent French and Spanish markets lower.
ICE February Brent crude futures rose $2.97 to $110.35 a barrel in trading, while U.S. crude futures were up $2.70 to $101.53 a barrel. U.S. crude futures were up as much as $101.68 in the trading day.
Europe's markets closed slightly higher Friday, but ended 2011 with large losses. In 2011 London's FTSE 100 declined 5.6 percent, Germany's DAX fell 14.7 percent, and France's CAC 40 finished the year with a 17 percent decline.
European shares were poised to register their biggest annual drop since 2008 on Friday after a year marred by the Eurozone debt crisis that has threatened to drag down the global economy.
European shares advanced on Thursday 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 Eurozone.
Gold prices Thursday tumbled to levels not seen since last summer, slashing what just weeks ago had been a gain of more than 20 percent this year to less than 10 percent.
Gold prices plunged 1.7 percent Thursday on a strengthening dollar, which was rising ahead of a crucial auction of Italian bonds and fresh worries about Eurozone banks.
European shares tracked Wall Street into the red in light trade on Wednesday, with auto makers the steepest fallers as investors cashed in on a recent rally.
Precious metals drifted lower Tuesday, with the biggest decline coming from palladium, which was down in early trading nearly 2 percent.
European shares turned in their best weekly performance since early December on Friday on optimism about a global recovery, after some positive data from the United States during the week provided evidence the economy was growing.
Asia'a markets rose more than 1 percent and U.S. index futures also gained on Friday, as signs of a strengthening economy in the United States encouraged a year-end bounce for riskier assets.
Asian stocks rose more than 1 percent and U.S. index futures also gained on Friday, as signs of a strengthening economy in the United States encouraged a year-end bounce for riskier assets.
European shares rose on Thursday, helped by mostly upbeat U.S. economic data, and with banks gaining after taking advantage of cheap finance offered by the European Central Bank.
Europe's markets fell on Wednesday after the large take up rate by banks for cheap European Central Bank loans worried investors about the banks' funding needs and raised doubts they would use the money to buy the region's peripheral debt.
Europe's banks borrowed nearly €490 billion or $637 billion from the European Central Bank at its first-ever offer of three-year loans on Wednesday, encouraging demand for the euro and stocks on hopes the funding will ease the two-year old debt crisis. On Wednesday at mid-day, London's FTSE 100 was down 25 points to 5,393, Germany's DAX was down 29 points to 5,819, and France's CAC 40 was off 22 points to 3,033.
Global stocks and commodities fell Wednesday as investors shrugged off heavy European Central Bank lending and eyed a troublesome U.S. earnings report.
Gold prices rose Tuesday with other commodities and global equities on unexpected signs the U.S. housing market is turning around and continued improvement in the Eurozone.
European shares rose on Tuesday in thin trade after a jump in U.S. housing starts, a strong reading of the German Ifo index and a solid Spanish debt auction boosted investor hopes about the global economic outlook.
Gold prices rose more than 1 percent and silver popped nearly 2 percent Tuesday on fresh evidence the struggling U.S. housing industry is recovering plus rising German business sentiment that boosted investors' risk appetite.
