Global stock markets jump on recovery optimismWorld stock markets rallied on Thursday, with London striking the highest level so far this year, as investors grew more optimistic about the prospects for a global economic recovery. Tokyo shares surged 1.68 percent on Thursday, tracking overnight gains on Wall Street where New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of stocks climbed to the highest level in 11 months on upbeat factory data. Markets were also lifted by rising commodity prices which gave a shot in the arm to the energy and mining sectors. "We have got this mounting belief that the global economic recovery is now well under way," said analyst Ben Potter at spread-betting firm IG Markets, adding that US data will come under the microscope later on Thursday. "US housing starts and weekly jobless claims Initial Jobless Claims is a report issued by the U.S. Department of Labor on a weekly basis. This report tracks how many people have filed for unemployment benefits in the previous week. It is a good gauge of the U.S. job market. will be closely followed as the recovery theme continues," he noted. In morning trading, London's benchmark FTSE 100 index FTSE 100 Index A market-weighted index of the 100 leading companies traded in Great Britain on the London Stock Exchange. The Financial Times of leading shares jumped to 5,171.99 points -- the highest level since late September 2008. It later stood at 5,165.06 points, up 0.80 percent from Wednesday. "Strong markets in America and Asia overnight have boosted the FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. to 2009 highs again," added Arifa Sheikh-Usmani, trader at betting group Spreadex. Frankfurt's DAX 30 added 0.54 percent to 5,731.23 points and in Paris the CAC See Consumer Advisory Council. 40 gained 0.53 percent to 3,834.00 points. The DJ Euro Stoxx 50 index of leading eurozone Eurozone Noun same as Euroland Eurozone n → eurozona, zona euro Eurozone n → zona euro shares won 0.43 percent to 2,895 points. On the foreign exchange market, the European single currency soared close to a one-year high against the dollar on Thursday. Traders sold safe-haven assets, such as the dollar, amid growing hopes about the global economic outlook, analysts said. The euro jumped as high as 1.4767 dollars in London morning deals, a level last seen on September 25, 2008. Overnight, Wall Street's rally gained fresh momentum Wednesday as data showing robust growth in US industrial production boosted sentiment and propelled shares higher. The Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. vaulted 1.12 percent to end at 9,791.71, for the eighth gain in the past nine sessions. The Nasdaq composite The Nasdaq Composite is a stock market index of all of the common stocks and similar securities (e.g. ADRs, tracking stocks, limited partnership interests) listed on the NASDAQ stock market, meaning that it has over 3,000 components. It is highly followed in the U.S. climbed 1.45 percent to 2,133.15 and the broad-market Standard & Poor's 500 index rose 1.53 percent to 1,068.76. Elsewhere in Asia on Thursday, Hong Kong jumped 1.71 percent, boosted by resource stocks on the back of rising commodity prices, dealers said. Chinese shares closed up 2.02 percent on Thursday, also led by oil and metal stocks. 
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