In Europe the FTSE added 16 points (+0.3%) to settle at 5568, whilst the CAC (+1.2%) and DAX (+0.4%) also posted gains.
Stateside, the Dow Jones added 78 points (+0.7%) to settle at 12098, whilst the S&P 500 (+1%) and Nasdaq (+1.1%) posted even stronger gains.
The euro lost ground against the greenback following S&P’s move to put eurozone nations on watch for a credit downgrade.
Oil finished flat, at US$100.99 a barrel, erasing earlier gains following speculation of credit rating action against euro zone nations. Oil prices had been up 1.5 – 2% on fears tensions with western nations could disrupt Iranian oil shipments.
Base metals were generally stronger; nickel soared 4.4%.
Gold fell 1 to US$1,734.50 an ounce. Some analysts attributed the drop to the potential for a euro zone budget agreement, reducing demand for safe-haven assets.
Today we will be in receipt of the latest RBA interest rate decision, scheduled to hit the airwaves at 2:30pm, AEDT.