European Markets Gain

Canada's market rallies; Asian markets finish with strong gains too

Canada's benchmark Toronto Stock Exchange 300 Composite Index rose 107.5 points or 1.47% to 7422.80 helped by Nortel Networks

European markets ended higher. In London, the Financial Times-Stock Exchange 100 index gained 47 points, or 0.89%, to 5,338, on hopes for economic recovery next year. In France, the CAC 40 added 73.19 points, or 1.60%, to 4,660.49, as bonds were lower. In Germany, the DAX Index was up 122.46 points, or 2.42%, to 5,185.10, getting a lift from U.S. equities that were expected to start higher.

Asian markets markets finished with solid gains. The Nikkei added 78.85 points, or 0.74%, to 10,727.94. The market strengthened in the afternoon, as momentum in bank shares built. In Hong Kong, the market gained 72.89 points, or 0.65%, to 11,360.26.

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