Dow Jones

US indices have opened almost 2% higher on the first trading day of 2012 as risk appetite resumes across global markets.

US stocks climbed overnight on upbeat economic data and a successful Spanish bond auction, lifting investor hopes of the fabled year-end 'Santa Claus rally'.

US markets have surged this afternoon after unexpected positive German data and a drop in Spanish borrowing costs provided some respite from the ongoing eurozone debt crisis.

Shares on South Korea's main index rose nearly 1% overnight, having sold off sharply on the day of North Korean leader Kim Jong Il's death.

The UK's leading share index shed almost 100 points on Monday, with shares across Europe and the US also plunging, as investors fretted over the outlook for Europe once again.

The Dow Jones shed 75 points in late trading as speculation mounted Standard & Poor's was lining up potential downgrades for 15 of the 17 members of the eurozone.

European stock markets opened higher this morning ahead of a crucial eurozone meeting on Friday which could decide the future of the single currency.

UK markets began the session strongly, with the blue chip index putting on more than 1% initially, ahead of key jobs data from the US.

European Central Bank (ECB) President Mario Dragh has warned risks facing the eurozone will increase unless governments adopt a closer fiscal union.

European markets have opened the week in positive territory, with the FTSE 100 rebounding from a period of extended losses.