US stocks opened higher today, with the S&P 500 on track for its sixth day of gains in the past seven, on optimism Slovakia would reach a deal to expand the euro zone rescue fund.
The Dow Jones industrial average gained 65.13 points, or 0.57 percent, to 11,481.43. The S&P 500 added 8.87 points, or 0.74 percent, to 1,204.41. The Nasdaq Composite rose 20.61 points, or 0.80 percent, to 2,603.64.
European shares hit their highest level in more than five weeks, on better-than-expected economic data in the euro zone and with miners rising on stronger metals prices due to restocking by Chinese consumers.
Optimism that Slovakia will soon give its long-awaited approval for the euro zone rescue fund also helped sentiment. The euro rose to a three-week high against the dollar, further helping to boost metal prices.
Euro zone industrial production was much stronger than expected in August, data showed on Wednesday, indicating the economic slowdown in the third quarter might be smaller than feared.
The European mining index gained 2 percent, tracking a rise in copper and other metals. Analysts said Chinese consumers were buying copper to meet immediate demand, which has tightened supply in Asia.
The FTSEurofirst 300 index of top European shares was up 0.9 percent at 970.12 points, on track to gain for the fifth session in six and having risen to 972.50, the highest since early September.
The Nikkei average snapped a three-session winning streak on lingering worries over the global economy and as floods in Thailand shut factories run by Honda and many other Japanese manufacturers.
Although speculators bought back some recently battered shares including shipping firms, investors are not convinced European policymakers can dispel worries over the financial system through measures they have promised to deliver by the end of the month.
The Nikkei benchmark fell 0.4 percent to 8,738.90, though it trimmed losses a tad on a rebound in Chinese shares and stayed above the 25-day moving average around 8,637.
buenosairesherald.com