European markets enjoy Christmas bounce
European stocks rose on Friday, the last trading day before the Christmas break, as traders temporarily put aside the debt crisis worries that have roiled markets for most of 2011.
In thin trade, investors continued to buy up stocks and the single currency after Italy accepted fresh austerity measures and following positive US jobs data, traders said.
London's benchmark FTSE 100 climbed 1.02 percent to close at 5,512.70 points. The index ceased trading earlier than usual ahead of the long festive weekend.
With deals still taking place across continental Europe, Frankfurt's DAX 30 nudged up 0.06 percent to 5,855.60 points in early afternoon deals.
In Paris the CAC 40 was up 0.73 percent to 3,094.04 points as traders brushed off news that the French economy grew less than first thought in the third quarter.
The euro was stable at $1.3053 against $1.3050 in New York late Thursday.
"A combination of Italian Prime Minister Mario Monti's success in gaining approval for his austerity package and continuing economic progress in the US is the catalyst for the markets drive at present," said Spreadex trader Jordan Lambert.